Global X Cloud Computing ETF (NASDAQ:CLOU) Trading 5% Higher – Here’s Why

Global X Cloud Computing ETF (NASDAQ:CLOU) rose 5% during trading on Friday . The company traded as high as $22.18 and last traded at $22.17. 394,248 shares were traded during mid-day trading, an increase of 58% from the average session volume of 249,309 shares. The stock had previously closed at $21.12.

Global X Cloud Computing ETF Stock Performance

The company has a market cap of $238.55 million, a price-to-earnings ratio of 36.94 and a beta of 1.08. The company’s fifty day moving average is $22.16 and its two-hundred day moving average is $21.16.

Institutional Trading of Global X Cloud Computing ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in shares of 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 worth $319,000 after purchasing an additional 1,967 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Global X Cloud Computing ETF by 12.4% in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Global X Cloud Computing ETF during the 4th quarter worth about $32,000. Fortune Financial Group Inc. acquired a new stake in Global X Cloud Computing ETF during the 4th quarter worth about $315,000. Finally, Insight Advisors LLC PA raised its stake in shares of Global X Cloud Computing ETF by 202.9% during the 4th quarter. Insight Advisors LLC PA now owns 22,019 shares of the company’s stock valued at $498,000 after buying an additional 43,427 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.