First Trust Cloud Computing ETF (NASDAQ:SKYY) Sees Large Volume Increase

First Trust Cloud Computing ETF (NASDAQ:SKYY) shares saw unusually-strong trading volume on Friday . Approximately 206,241 shares traded hands during trading, an increase of 34% from the previous session’s volume of 153,740 shares.The stock last traded at $101.50 and had previously closed at $101.37.

First Trust Cloud Computing ETF Stock Down 0.6 %

The firm’s 50 day moving average price is $95.07 and its two-hundred day moving average price is $94.32. The firm has a market capitalization of $3.09 billion, a PE ratio of 33.21 and a beta of 1.06.

Hedge Funds Weigh In On First Trust Cloud Computing ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKYY. Wells Fargo & Company MN lifted its stake in shares of First Trust Cloud Computing ETF by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 297,788 shares of the company’s stock worth $26,107,000 after acquiring an additional 4,739 shares in the last quarter. Main Management ETF Advisors LLC raised its position in shares of First Trust Cloud Computing ETF by 0.8% in the 2nd quarter. Main Management ETF Advisors LLC now owns 155,600 shares of the company’s stock valued at $14,864,000 after purchasing an additional 1,200 shares in the last quarter. Raymond James & Associates boosted its stake in shares of First Trust Cloud Computing ETF by 0.4% during the 2nd quarter. Raymond James & Associates now owns 148,379 shares of the company’s stock valued at $14,175,000 after buying an additional 581 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of First Trust Cloud Computing ETF by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 132,969 shares of the company’s stock valued at $11,657,000 after buying an additional 2,566 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in shares of First Trust Cloud Computing ETF by 18.1% during the first quarter. Private Advisor Group LLC now owns 130,739 shares of the company’s stock worth $12,499,000 after buying an additional 20,028 shares in the last quarter.

First Trust Cloud Computing ETF Company Profile

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.