First Trust Cloud Computing ETF (NASDAQ:SKYY) Reaches New 1-Year High – Time to Buy?

First Trust Cloud Computing ETF (NASDAQ:SKYY) shares hit a new 52-week high on Thursday . The stock traded as high as $105.31 and last traded at $105.10, with a volume of 18682 shares traded. The stock had previously closed at $104.52.

First Trust Cloud Computing ETF Price Performance

The firm’s 50-day moving average is $96.99 and its two-hundred day moving average is $94.89. The company has a market cap of $3.06 billion, a P/E ratio of 33.21 and a beta of 1.06.

Institutional Investors Weigh In On First Trust Cloud Computing ETF

Several large investors have recently added to or reduced their stakes in the stock. Peterson Wealth Management raised its stake in shares of First Trust Cloud Computing ETF by 1.0% in the fourth quarter. Peterson Wealth Management now owns 24,204 shares of the company’s stock valued at $2,122,000 after acquiring an additional 250 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of First Trust Cloud Computing ETF by 5.1% during the 1st quarter. EP Wealth Advisors LLC now owns 2,452 shares of the company’s stock worth $234,000 after acquiring an additional 118 shares during the last quarter. Napa Wealth Management bought a new position in First Trust Cloud Computing ETF in the 4th quarter valued at $446,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of First Trust Cloud Computing ETF by 3.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,565 shares of the company’s stock worth $5,886,000 after purchasing an additional 2,126 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its holdings in shares of First Trust Cloud Computing ETF by 36.4% in the first quarter. SeaCrest Wealth Management LLC now owns 8,869 shares of the company’s stock worth $848,000 after purchasing an additional 2,369 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.