Short Interest in First Trust Cloud Computing ETF (NASDAQ:SKYY) Declines By 20.1%

First Trust Cloud Computing ETF (NASDAQ:SKYY) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 126,947 shares, a decline of 20.1% from the March 31st total of 158,797 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 270,866 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of First Trust Cloud Computing ETF

Several institutional investors and hedge funds have recently made changes to their positions in SKYY. Northwestern Mutual Wealth Management Co. lifted its position in shares of First Trust Cloud Computing ETF by 12,567.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,301,211 shares of the company’s stock worth $429,422,000 after purchasing an additional 3,275,151 shares during the last quarter. BNP Paribas Financial Markets increased its position in First Trust Cloud Computing ETF by 803.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 107,608 shares of the company’s stock valued at $14,465,000 after purchasing an additional 95,702 shares during the period. Envestnet Asset Management Inc. raised its holdings in First Trust Cloud Computing ETF by 61.1% in the third quarter. Envestnet Asset Management Inc. now owns 154,904 shares of the company’s stock worth $20,822,000 after purchasing an additional 58,740 shares in the last quarter. AlphaCore Capital LLC bought a new position in First Trust Cloud Computing ETF in the fourth quarter worth about $6,823,000. Finally, Wells Fargo & Company MN raised its holdings in First Trust Cloud Computing ETF by 16.4% in the fourth quarter. Wells Fargo & Company MN now owns 335,915 shares of the company’s stock worth $43,696,000 after purchasing an additional 47,229 shares in the last quarter.

First Trust Cloud Computing ETF Stock Up 4.7%

NASDAQ SKYY opened at $124.39 on Friday. The company has a fifty day moving average of $112.53 and a two-hundred day moving average of $123.01. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 33.85 and a beta of 1.21. First Trust Cloud Computing ETF has a 52 week low of $103.76 and a 52 week high of $143.74.

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.