Financial Advocates Investment Management Trims Stake in First Trust Cloud Computing ETF $SKYY

Financial Advocates Investment Management lessened its holdings in First Trust Cloud Computing ETF (NASDAQ:SKYY) by 34.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,089 shares of the company’s stock after selling 2,682 shares during the period. Financial Advocates Investment Management’s holdings in First Trust Cloud Computing ETF were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Robertson Stephens Wealth Management LLC boosted its stake in First Trust Cloud Computing ETF by 11.6% during the second quarter. Robertson Stephens Wealth Management LLC now owns 2,359 shares of the company’s stock worth $287,000 after buying an additional 246 shares during the period. Endowment Wealth Management Inc. raised its stake in shares of First Trust Cloud Computing ETF by 25.6% in the 2nd quarter. Endowment Wealth Management Inc. now owns 5,180 shares of the company’s stock valued at $630,000 after acquiring an additional 1,057 shares during the period. Blair William & Co. IL lifted its holdings in shares of First Trust Cloud Computing ETF by 4.7% in the 2nd quarter. Blair William & Co. IL now owns 2,145 shares of the company’s stock worth $261,000 after acquiring an additional 97 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of First Trust Cloud Computing ETF during the 2nd quarter worth approximately $258,000. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of First Trust Cloud Computing ETF by 7.6% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,292 shares of the company’s stock worth $337,000 after purchasing an additional 233 shares during the period.

First Trust Cloud Computing ETF Stock Down 0.5%

Shares of NASDAQ SKYY opened at $127.82 on Thursday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 33.85 and a beta of 1.24. First Trust Cloud Computing ETF has a 52-week low of $85.38 and a 52-week high of $143.74. The business’s 50 day moving average is $134.92 and its two-hundred day moving average is $126.04.

First Trust Cloud Computing ETF 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.