First Trust Cloud Computing ETF (NASDAQ:SKYY) Sets New 52-Week High – What’s Next?

First Trust Cloud Computing ETF (NASDAQ:SKYY) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $156.32 and last traded at $155.72, with a volume of 20064 shares changing hands. The stock had previously closed at $153.43.

First Trust Cloud Computing ETF Trading Up 0.8%

The stock’s 50-day simple moving average is $137.44 and its 200-day simple moving average is $124.23. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 33.85 and a beta of 1.24.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Several institutional investors have recently made changes to their positions in SKYY. Parallel Advisors LLC raised its holdings in First Trust Cloud Computing ETF by 97.0% in the 3rd quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 97 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of First Trust Cloud Computing ETF during the 4th quarter worth $30,000. Franklin Resources Inc. bought a new position in shares of First Trust Cloud Computing ETF in the fourth quarter worth $33,000. Capital Advisors Ltd. LLC bought a new position in shares of First Trust Cloud Computing ETF in the first quarter worth $35,000. Finally, Russell Investments Group Ltd. raised its stake in First Trust Cloud Computing ETF by 177.9% in the fourth quarter. Russell Investments Group Ltd. now owns 289 shares of the company’s stock valued at $38,000 after purchasing an additional 185 shares in the last quarter.

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.