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

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 217,800 shares, a decline of 18.1% from the October 15th total of 265,900 shares. Based on an average daily volume of 122,700 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKYY. EP Wealth Advisors LLC increased its stake in shares of First Trust Cloud Computing ETF by 5.1% in the first quarter. EP Wealth Advisors LLC now owns 2,452 shares of the company’s stock worth $234,000 after purchasing an additional 118 shares during the period. Creative Planning lifted its position in shares of First Trust Cloud Computing ETF by 8.0% during the 3rd quarter. Creative Planning now owns 11,929 shares of the company’s stock worth $1,220,000 after buying an additional 885 shares during the period. US Bancorp DE lifted its holdings in shares of First Trust Cloud Computing ETF by 8.2% during the third quarter. US Bancorp DE now owns 6,220 shares of the company’s stock valued at $636,000 after acquiring an additional 472 shares during the period. Blue Trust Inc. acquired a new position in First Trust Cloud Computing ETF in the second quarter valued at about $48,000. Finally, Cetera Advisors LLC grew its position in First Trust Cloud Computing ETF by 16.9% during the 1st quarter. Cetera Advisors LLC now owns 16,454 shares of the company’s stock worth $1,573,000 after acquiring an additional 2,380 shares during the last quarter.

First Trust Cloud Computing ETF Trading Down 2.2 %

First Trust Cloud Computing ETF stock traded down $2.61 during trading hours on Friday, reaching $115.58. 127,012 shares of the company were exchanged, compared to its average volume of 148,009. The stock has a 50-day moving average of $105.37 and a 200 day moving average of $97.99. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06. First Trust Cloud Computing ETF has a 12 month low of $78.14 and a 12 month high of $121.59.

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.