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

First Trust Cloud Computing ETF (NASDAQ:SKYY) hit a new 52-week high on Friday . The company traded as high as $103.20 and last traded at $103.19, with a volume of 94444 shares changing hands. The stock had previously closed at $100.74.

First Trust Cloud Computing ETF Trading Up 2.4 %

The firm has a market cap of $3.00 billion, a P/E ratio of 33.21 and a beta of 1.06. The business’s 50-day moving average is $96.46 and its two-hundred day moving average is $94.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Anchor Investment Management LLC raised its stake in shares of First Trust Cloud Computing ETF by 53.4% in the 2nd quarter. Anchor Investment Management LLC now owns 675 shares of the company’s stock worth $64,000 after buying an additional 235 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at about $979,000. EP Wealth Advisors LLC grew its stake in shares of First Trust Cloud Computing ETF by 15.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,821 shares of the company’s stock worth $270,000 after purchasing an additional 369 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of First Trust Cloud Computing ETF by 10.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 36,305 shares of the company’s stock worth $3,468,000 after purchasing an additional 3,399 shares during the last quarter. Finally, Gateway Wealth Partners LLC lifted its stake in First Trust Cloud Computing ETF by 368.9% during the second quarter. Gateway Wealth Partners LLC now owns 12,683 shares of the company’s stock valued at $1,212,000 after purchasing an additional 9,978 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.