Acorn Financial Advisory Services Inc. ADV buys new position in first Trust Cloud Computing ETF (NASDAQ:SKYY)

Acorn Financial Advisory Services Inc. ADV bought a new stake in First Trust Cloud Computing ETF (NASDAQ:SKYY – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund purchased 3,568 shares of the company, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in First Trust Cloud Computing ETF by 6.8% during the first quarter. JPMorgan Chase & Co. now owns 154,711 shares of the company valued at $14,004,000 after acquiring an additional 9,810 shares during the most recent quarter. Jane Street Group LLC increased its holding in First Trust Cloud Computing ETF shares by 126.8% in the fourth quarter. Jane Street Group LLC now owns 139,917 shares of the company valued at $8,061,000 after purchasing an additional 78,217 shares during the most recent quarter. Flagship Harbor Advisors LLC acquired a new stock position in First Trust Cloud Computing ETF during the first quarter valued at $6,051,000. Ignite Planners LLC increased its holding of First Trust Cloud Computing ETF shares by 2,111.8% during the 4th quarter. Ignite Planners LLC now owns 84,976 shares of the company valued at $5,458,000 after acquiring an additional 81,134 shares during the period. Finally, First Republic Investment Management Inc. increased its holding of First Trust Cloud Computing ETF shares by 71.8% during the first quarter. First Republic Investment Management Inc. now owns 82,215 shares of the company valued at $7,442,000 after acquiring an additional 34,350 shares during the period.

First Trust Cloud Computing ETF up 1.4%

SKYY opened Wednesday at $77.09. The company’s fifty-day moving average price is $72.41, and its two-hundred-day moving average price is $66.74. First Trust Cloud Computing ETF has a 1-year low of $54.50 and a 1-year high of $79.44. The company has a market cap of $2.93 billion, a price/earnings ratio of 20.90, and a beta of 1.06.

First Trust Cloud Computing ETF profile

(Free Report)

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.

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