First Trust Cloud Computing ETF (NASDAQ:SKYY) Sets New 1-Year High – What’s Next?

First Trust Cloud Computing ETF (NASDAQ:SKYY)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $169.41 and last traded at $168.2480, with a volume of 17450 shares traded. The stock had previously closed at $168.21.

First Trust Cloud Computing ETF Stock Down 0.6%

The company has a market cap of $3.43 billion, a PE ratio of 33.85 and a beta of 1.26. The firm’s 50-day moving average is $153.87 and its 200-day moving average is $135.03.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Several hedge funds have recently made changes to their positions in the company. Independent Financial Group LLC purchased a new stake in First Trust Cloud Computing ETF during the 1st quarter valued at about $5,003,000. Osbon Capital Management LLC purchased a new position in First Trust Cloud Computing ETF in the fourth quarter worth about $1,093,000. Evelyn Partners Investment Management Europe Ltd bought a new position in shares of First Trust Cloud Computing ETF in the fourth quarter worth approximately $5,508,000. Hyposwiss Advisors SA purchased a new stake in shares of First Trust Cloud Computing ETF during the fourth quarter valued at approximately $2,479,000. Finally, RFG Advisory LLC grew its holdings in shares of First Trust Cloud Computing ETF by 59.7% during the first quarter. RFG Advisory LLC now owns 11,439 shares of the company’s stock valued at $1,251,000 after buying an additional 4,274 shares during the last quarter.

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.