Concorde Asset Management LLC Trims Position in First Trust Cloud Computing ETF $SKYY

Concorde Asset Management LLC lessened its holdings in First Trust Cloud Computing ETF (NASDAQ:SKYY) by 29.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 19,129 shares of the company’s stock after selling 8,159 shares during the quarter. First Trust Cloud Computing ETF makes up 1.5% of Concorde Asset Management LLC’s portfolio, making the stock its 21st largest position. Concorde Asset Management LLC’s holdings in First Trust Cloud Computing ETF were worth $2,574,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in shares of First Trust Cloud Computing ETF during the second quarter worth $3,175,000. Brown Advisory Inc. bought a new position in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at about $337,000. NewEdge Advisors LLC boosted its holdings in shares of First Trust Cloud Computing ETF by 17.9% during the 2nd quarter. NewEdge Advisors LLC now owns 30,644 shares of the company’s stock valued at $3,727,000 after purchasing an additional 4,652 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of First Trust Cloud Computing ETF during the second quarter valued at about $597,000. Finally, Ameriprise Financial Inc. grew its position in shares of First Trust Cloud Computing ETF by 7.8% during the second quarter. Ameriprise Financial Inc. now owns 164,762 shares of the company’s stock valued at $20,041,000 after purchasing an additional 11,987 shares in the last quarter.

First Trust Cloud Computing ETF Trading Down 1.2%

Shares of SKYY stock opened at $159.62 on Wednesday. First Trust Cloud Computing ETF has a 12-month low of $103.76 and a 12-month high of $169.05. The stock’s 50-day moving average price is $149.64 and its 200-day moving average price is $131.75. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 33.85 and a beta of 1.26.

First Trust Cloud Computing ETF 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.