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

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

by Amelia Ramiro

First Trust Cloud Computing ETF (NASDAQ:SKYY) has experienced a significant decline in short interest during the month of September. Short interest totaled 213,400 shares as of September 15th, which represents a decrease of 27.6% compared to the previous total of 294,800 shares on August 31st. With an average daily volume of 204,300 shares, the current days-to-cover ratio stands at 1.0 days.

Institutional investors have also made adjustments to their holdings of First Trust Cloud Computing ETF. Atria Wealth Solutions Inc. increased its stake in the company by 0.9% during the fourth quarter, now owning 38,015 shares valued at $2,190,000. Cascade Investment Group Inc. purchased a new position in the ETF during the same quarter, with a value of approximately $2,048,000. Additionally, Tradewinds LLC. grew its holdings by 445.3% in the first quarter, owning 3,310 shares valued at $221,000. FSB Premier Wealth Management Inc. increased its stake by 10.8% in the first quarter, now owning 14,231 shares valued at $952,000. Finally, Wedmont Private Capital purchased a new position in the ETF during the second quarter, valued at approximately $223,000.

Shares of First Trust Cloud Computing ETF, traded under the ticker NASDAQ:SKYY, rose by $0.35 during mid-day trading on Friday, reaching $75.91. The company had a trading volume of 172,985 shares, compared to its average volume of 267,849. With a market cap of $2.70 billion and a price-to-earnings ratio of 20.90, the ETF’s 50-day moving average price is $78.03, while its 200-day moving average price is $72.42. The company’s one-year low is $54.50, and its one-year high is $82.10.

The First Trust Cloud Computing ETF (SKYY) is an exchange-traded fund that tracks the ISE Cloud Computing index. The fund includes companies involved in the cloud computing industry, with stocks modified-equally-weighted and capped at 4.5%. Managed by First Trust, SKYY was launched on July 5, 2011.

This news alert was generated using narrative science technology and financial data from MarketBeat to provide readers with fast and accurate reporting. The story was reviewed by MarketBeat’s editorial team and any questions or comments can be sent to contact@marketbeat.com.

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