Mutual Advisors LLC reduces holdings in first Trust Cloud Computing ETF (NASDAQ:SKYY)

Mutual Advisors LLC reduced its holdings in First Trust Cloud Computing ETF (NASDAQ:SKYY – Get Rating) by 22.7% in the first quarter, according to the company in its latest Form 13F filed with the Securities & Exchange Commission. The firm owned 17,334 shares of the company after selling 5,104 shares during the period. Mutual Advisors LLC’s holdings in First Trust Cloud Computing ETF were worth $1,160,000 at its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. increased its stake in First Trust Cloud Computing ETF by 2.0% during the first quarter. Vontobel Holding Ltd. now owns 8,365 shares of the company worth $757,000 after buying another 165 shares in the recent quarter. Capital Wealth Alliance LLC increased its holding in First Trust Cloud Computing ETF shares by 5.4% during the fourth quarter. Capital Wealth Alliance LLC now owns 3,895 shares of the company worth $225,000 after buying another 199 shares in the recent quarter. Activest Wealth Management increased its holding of shares in First Trust Cloud Computing ETF by 20.3% during the fourth quarter. Activest Wealth Management now owns 1,429 shares of the company worth $82,000 after buying another 241 shares in the recent quarter. Summit Financial LLC increased its holding of First Trust Cloud Computing ETF shares by 4.9% during the fourth quarter. Summit Financial LLC now owns 5,249 shares of the company worth $302,000 after buying another 247 shares in the recent quarter. Finally, Signaturefd LLC increased its holding of shares in First Trust Cloud Computing ETF by 30.9% during the fourth quarter. Signaturefd LLC now owns 1,060 shares of the company worth $61,000 after buying another 250 shares in the recent quarter.

First Trust Cloud Computing ETF Price Performance

Shares of SKYY opened Friday at $73.84. The stock’s 50-day moving average is $69.61, and its two-hundred-day moving average is $65.76. The stock has a market cap of $2.83 billion, a PE of 20.90, and a beta of 1.06. First Trust Cloud Computing ETF has a 12-month low of $54.50 and a 12-month high of $79.44.

First Trust Cloud Computing ETF profile

(Get Rating)

The First Trust Cloud Computing ETF (SKYY) is an exchange-traded fund based on the ISE Cloud Computing Index. The fund tracks an index of companies involved in the cloud computing industry. The shares are modified equally weighted with a maximum limit of 4.5%. SKYY was launched on 5 July 2011 and is managed by First Trust.

Further reading

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider First Trust Cloud Computing ETF, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and best-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are whispering to their clients to buy now before the broader market catches on… and First Trust Cloud Computing ETF was not on the list.

Although First Trust Cloud Computing ETF currently has a “hold” rating among analysts, senior analysts believe these five stocks are better buys.

View the five titles here