Global X Cloud Computing ETF (NASDAQ:CLOU) Sees Large Drop in Short Interest

Global X Cloud Computing ETF (NASDAQ:CLOU) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 83,283 shares, a decline of 53.1% from the September 30th total of 177,744 shares. Based on an average trading volume of 258,731 shares, the short-interest ratio is presently 0.3 days. Currently, 0.6% of the shares of the company are sold short.

Global X Cloud Computing ETF Stock Down 4.2%

CLOU traded down $1.22 during trading hours on Friday, hitting $28.02. 525,274 shares of the company’s stock were exchanged, compared to its average volume of 300,300. The stock’s 50-day moving average is $28.66 and its two-hundred day moving average is $23.56. The stock has a market cap of $395.64 million, a price-to-earnings ratio of 36.94 and a beta of 1.08. Global X Cloud Computing ETF has a 1-year low of $17.52 and a 1-year high of $30.78.

Institutional Trading of Global X Cloud Computing ETF

Several hedge funds have recently added to or reduced their stakes in the stock. VestGen Advisors LLC purchased a new position in Global X Cloud Computing ETF during the third quarter valued at $470,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Global X Cloud Computing ETF during the 3rd quarter worth $307,000. AGH Wealth Advisors LLC purchased a new position in shares of Global X Cloud Computing ETF in the third quarter worth $1,318,000. Citizens Financial Group Inc. RI purchased a new position in Global X Cloud Computing ETF during the third quarter valued at approximately $230,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Global X Cloud Computing ETF by 15.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 6,826 shares of the company’s stock worth $194,000 after purchasing an additional 910 shares during the last quarter.

Global X Cloud Computing ETF Company Profile

The Global X Cloud Computing ETF (CLOU) is an exchange-traded fund that is based on the Indxx Global Cloud Computing index. The fund provides exposure to a market-cap weighted global equity index of companies involved in the cloud computing industry. CLOU was launched on Apr 12, 2019 and is managed by Global X.