First Trust Cloud Computing ETF (NASDAQ:SKYY) Short Interest Up 27.3% in July

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 232,500 shares, a growth of 27.3% from the July 15th total of 182,700 shares. Based on an average daily trading volume, of 124,200 shares, the short-interest ratio is presently 1.9 days.

Institutional Trading of First Trust Cloud Computing ETF

Several hedge funds and other institutional investors have recently modified their holdings of SKYY. MJP Associates Inc. ADV raised its stake in First Trust Cloud Computing ETF by 4.0% in the 1st quarter. MJP Associates Inc. ADV now owns 2,703 shares of the company’s stock worth $258,000 after purchasing an additional 105 shares in the last quarter. Prestige Wealth Management Group LLC raised its stake in First Trust Cloud Computing ETF by 0.3% in the 4th quarter. Prestige Wealth Management Group LLC now owns 38,748 shares of the company’s stock worth $3,397,000 after purchasing an additional 114 shares in the last quarter. Summit Financial LLC raised its stake in First Trust Cloud Computing ETF by 2.1% in the 1st quarter. Summit Financial LLC now owns 5,580 shares of the company’s stock worth $533,000 after purchasing an additional 114 shares in the last quarter. EP Wealth Advisors LLC raised its stake in First Trust Cloud Computing ETF by 5.1% in the 1st quarter. EP Wealth Advisors LLC now owns 2,452 shares of the company’s stock worth $234,000 after purchasing an additional 118 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in First Trust Cloud Computing ETF by 3.4% in the 1st quarter. International Assets Investment Management LLC now owns 3,677 shares of the company’s stock worth $351,000 after purchasing an additional 120 shares in the last quarter.

First Trust Cloud Computing ETF Stock Performance

Shares of SKYY stock traded up $0.45 during midday trading on Friday, hitting $96.71. 61,919 shares of the company were exchanged, compared to its average volume of 156,027. The firm has a market capitalization of $2.97 billion, a P/E ratio of 33.21 and a beta of 1.06. The firm’s 50 day moving average price is $93.60 and its two-hundred day moving average price is $93.65. First Trust Cloud Computing ETF has a 52 week low of $70.42 and a 52 week high of $97.78.

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.