Global X Cloud Computing ETF (NASDAQ:CLOU) Shares Up 1.6% – Here’s Why

Global X Cloud Computing ETF (NASDAQ:CLOU)’s share price rose 1.6% on Tuesday. The company traded as high as $29.18 and last traded at $29.09. 342,084 shares traded hands during trading, an increase of 15% from the average session volume of 297,180 shares. The stock had previously closed at $28.62.

Global X Cloud Computing ETF Price Performance

The business has a 50-day moving average of $28.44 and a two-hundred day moving average of $24.79. The company has a market cap of $418.80 million, a P/E ratio of 36.94 and a beta of 1.08.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its holdings in shares of Global X Cloud Computing ETF by 15.4% during the third quarter. SBI Securities Co. Ltd. now owns 6,826 shares of the company’s stock worth $194,000 after purchasing an additional 910 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Global X Cloud Computing ETF by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 16,351 shares of the company’s stock valued at $319,000 after purchasing an additional 1,967 shares during the period. Sanctuary Advisors LLC lifted its position in Global X Cloud Computing ETF by 12.4% during the first quarter. Sanctuary Advisors LLC now owns 30,295 shares of the company’s stock valued at $591,000 after purchasing an additional 3,342 shares during the period. Diversify Advisory Services LLC purchased a new stake in Global X Cloud Computing ETF in the third quarter valued at $610,000. Finally, Cetera Investment Advisers boosted its holdings in Global X Cloud Computing ETF by 29.6% in the first quarter. Cetera Investment Advisers now owns 60,877 shares of the company’s stock valued at $1,187,000 after purchasing an additional 13,905 shares during the last quarter.

About Global X Cloud Computing ETF

The Global X Cloud Computing ETF (CLOU) is an exchange-traded fund that is based on the Indxx Global Cloud Computing index. The fund provides exposure to a market-cap weighted global equity index of companies involved in the cloud computing industry. CLOU was launched on Apr 12, 2019 and is managed by Global X.