First Trust Cloud Computing ETF (NASDAQ:SKYY) Short Interest Down 16.5% in December

First Trust Cloud Computing ETF (NASDAQ:SKYY) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 219,000 shares, a decline of 16.5% from the November 30th total of 262,200 shares. Based on an average daily volume of 153,900 shares, the days-to-cover ratio is presently 1.4 days.

First Trust Cloud Computing ETF Stock Performance

Shares of NASDAQ SKYY traded down $0.89 during midday trading on Tuesday, hitting $119.20. 138,738 shares of the company’s stock traded hands, compared to its average volume of 154,365. The firm has a fifty day moving average of $118.65 and a 200 day moving average of $104.61. First Trust Cloud Computing ETF has a 1 year low of $83.06 and a 1 year high of $131.13. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SKYY. JPMorgan Chase & Co. raised its holdings in First Trust Cloud Computing ETF by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 147,336 shares of the company’s stock valued at $15,067,000 after acquiring an additional 5,620 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of First Trust Cloud Computing ETF during the 3rd quarter valued at approximately $65,000. World Investment Advisors LLC raised its holdings in First Trust Cloud Computing ETF by 5.7% during the 3rd quarter. World Investment Advisors LLC now owns 5,512 shares of the company’s stock valued at $564,000 after buying an additional 299 shares during the period. Sanctuary Advisors LLC lifted its position in First Trust Cloud Computing ETF by 18.0% in the third quarter. Sanctuary Advisors LLC now owns 12,423 shares of the company’s stock worth $1,270,000 after buying an additional 1,899 shares during the last quarter. Finally, Cresta Advisors Ltd. boosted its stake in First Trust Cloud Computing ETF by 36.4% during the third quarter. Cresta Advisors Ltd. now owns 7,500 shares of the company’s stock worth $767,000 after buying an additional 2,000 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.