Pinnacle Associates Ltd. Acquires 626 Shares of First Trust Cloud Computing ETF (NASDAQ:SKYY)

Pinnacle Associates Ltd. raised its stake in shares of First Trust Cloud Computing ETF (NASDAQ:SKYY) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,241 shares of the company’s stock after acquiring an additional 626 shares during the quarter. Pinnacle Associates Ltd.’s holdings in First Trust Cloud Computing ETF were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its position in First Trust Cloud Computing ETF by 9.4% during the first quarter. Janney Montgomery Scott LLC now owns 56,652 shares of the company’s stock valued at $5,416,000 after purchasing an additional 4,873 shares in the last quarter. Graypoint LLC raised its stake in shares of First Trust Cloud Computing ETF by 10.1% during the 1st quarter. Graypoint LLC now owns 7,588 shares of the company’s stock worth $725,000 after acquiring an additional 694 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in First Trust Cloud Computing ETF by 7.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,556 shares of the company’s stock valued at $244,000 after acquiring an additional 169 shares during the last quarter. Manchester Capital Management LLC grew its holdings in First Trust Cloud Computing ETF by 42.2% in the first quarter. Manchester Capital Management LLC now owns 3,200 shares of the company’s stock worth $306,000 after purchasing an additional 950 shares during the last quarter. Finally, VitalStone Financial LLC grew its holdings in First Trust Cloud Computing ETF by 44.4% in the first quarter. VitalStone Financial LLC now owns 465 shares of the company’s stock worth $44,000 after purchasing an additional 143 shares during the last quarter.

First Trust Cloud Computing ETF Trading Up 2.0 %

Shares of SKYY opened at $107.37 on Friday. First Trust Cloud Computing ETF has a 12 month low of $73.12 and a 12 month high of $108.14. The stock has a fifty day moving average price of $101.48 and a 200-day moving average price of $96.28. The firm has a market cap of $3.15 billion, a PE ratio of 33.21 and a beta of 1.06.

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.