First Trust Cloud Computing ETF (NASDAQ:SKYY) Sees Unusually-High Trading Volume – Time to Buy?

First Trust Cloud Computing ETF (NASDAQ:SKYY) saw unusually-high trading volume on Wednesday . Approximately 1,013,306 shares changed 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 Trading Up 0.2%

The stock has a fifty day simple moving average of $122.99 and a two-hundred day simple moving average of $122.38. The company has a market cap of $3.05 billion, a PE ratio of 33.85 and a beta of 1.24.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Several institutional investors have recently modified their holdings of SKYY. Marshall Wace LLP purchased a new stake in shares of First Trust Cloud Computing ETF during the 2nd quarter worth approximately $3,175,000. Brown Advisory Inc. purchased a new stake in shares of First Trust Cloud Computing ETF during the 2nd quarter worth approximately $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 worth $3,727,000 after acquiring an additional 4,652 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of First Trust Cloud Computing ETF during the 2nd quarter worth approximately $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 worth $20,041,000 after acquiring an additional 11,987 shares in the last quarter.

First Trust Cloud Computing ETF Company Profile

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.