First Trust Cloud Computing ETF (NASDAQ:SKYY) Reaches New 52-Week High – What’s Next?

First Trust Cloud Computing ETF (NASDAQ:SKYY) shares hit a new 52-week high on Thursday . The stock traded as high as $121.67 and last traded at $121.32, with a volume of 122362 shares changing hands. The stock had previously closed at $117.62.

First Trust Cloud Computing ETF Stock Performance

The company’s 50-day moving average price is $106.67 and its 200 day moving average price is $98.52. The stock has a market capitalization of $3.54 billion, a PE ratio of 33.21 and a beta of 1.06.

Institutional Trading of First Trust Cloud Computing ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC increased its stake in First Trust Cloud Computing ETF by 5.1% during the 1st quarter. EP Wealth Advisors LLC now owns 2,452 shares of the company’s stock valued at $234,000 after purchasing an additional 118 shares in the last quarter. Creative Planning grew its stake in shares of First Trust Cloud Computing ETF by 8.0% in the third quarter. Creative Planning now owns 11,929 shares of the company’s stock worth $1,220,000 after acquiring an additional 885 shares during the period. US Bancorp DE grew its stake in shares of First Trust Cloud Computing ETF by 8.2% in the third quarter. US Bancorp DE now owns 6,220 shares of the company’s stock worth $636,000 after acquiring an additional 472 shares during the period. Blue Trust Inc. bought a new stake in shares of First Trust Cloud Computing ETF in the second quarter worth approximately $48,000. Finally, Cetera Advisors LLC grew its stake in shares of First Trust Cloud Computing ETF by 16.9% in the first quarter. Cetera Advisors LLC now owns 16,454 shares of the company’s stock worth $1,573,000 after acquiring an additional 2,380 shares during the period.

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.