First Trust Cloud Computing ETF (NASDAQ:SKYY) Sees Significant Drop in Short Interest

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 89,264 shares, a decline of 42.6% from the June 15th total of 155,585 shares. Based on an average daily trading volume, of 381,173 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.4% of the shares of the stock are sold short.

First Trust Cloud Computing ETF Price Performance

NASDAQ SKYY traded down $0.65 during trading on Thursday, reaching $136.38. The company’s stock had a trading volume of 236,180 shares, compared to its average volume of 321,408. The firm has a fifty day moving average of $134.93 and a 200 day moving average of $123.38. First Trust Cloud Computing ETF has a one year low of $103.76 and a one year high of $155.76. The stock has a market capitalization of $2.83 billion, a PE ratio of 33.85 and a beta of 1.24.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. San Luis Wealth Advisors LLC purchased a new position in shares of First Trust Cloud Computing ETF during the fourth quarter worth approximately $801,000. Evelyn Partners Investment Management Europe Ltd purchased a new stake in shares of First Trust Cloud Computing ETF in the 4th quarter valued at $5,508,000. Evelyn Partners Investment Management LLP purchased a new stake in shares of First Trust Cloud Computing ETF in the 4th quarter valued at $502,000. Hyposwiss Advisors SA purchased a new stake in shares of First Trust Cloud Computing ETF in the 4th quarter valued at $2,479,000. Finally, Northbridge Financial Group LLC bought a new position in shares of First Trust Cloud Computing ETF during the 4th quarter valued at $543,000.

About First Trust Cloud Computing ETF

The First Trust Cloud Computing ETF (SKYY) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund tracks an index of companies involved in the cloud computing industry. Stocks are modified-equally-weighted capped at 4.5%. SKYY was launched on Jul 5, 2011 and is managed by First Trust.