First Trust Cloud Computing ETF (NASDAQ:SKYY) Sees Unusually-High Trading Volume – What’s Next?

First Trust Cloud Computing ETF (NASDAQ:SKYY) shares saw strong trading volume on Wednesday . 1,013,306 shares traded hands during mid-day trading, an increase of 230% from the previous session’s volume of 307,484 shares.The stock last traded at $148.31 and had previously closed at $153.09.

First Trust Cloud Computing ETF Stock Performance

The business’s 50 day moving average is $120.69 and its 200 day moving average is $122.02. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 33.85 and a beta of 1.19.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

A number of institutional investors have recently modified their holdings of SKYY. Marshall Wace LLP acquired a new stake in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at $3,175,000. Brown Advisory Inc. acquired a new stake in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at $337,000. NewEdge Advisors LLC boosted its stake in shares of First Trust Cloud Computing ETF by 17.9% during the 2nd quarter. NewEdge Advisors LLC now owns 30,644 shares of the company’s stock valued at $3,727,000 after buying an additional 4,652 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at $597,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of First Trust Cloud Computing ETF by 7.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 164,762 shares of the company’s stock valued at $20,041,000 after buying an additional 11,987 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.