Perennial Investment Advisors LLC Takes Position in First Trust Cloud Computing ETF (NASDAQ:SKYY)

Perennial Investment Advisors LLC bought a new stake in First Trust Cloud Computing ETF (NASDAQ:SKYY) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,455 shares of the company’s stock, valued at approximately $235,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Peterson Wealth Management boosted its holdings 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 boosted its stake in 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 purchasing an additional 118 shares during the period. Napa Wealth Management purchased a new position in First Trust Cloud Computing ETF during the 4th quarter worth $446,000. Wealth Enhancement Advisory Services LLC increased its stake in First Trust Cloud Computing ETF by 3.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,565 shares of the company’s stock valued at $5,886,000 after purchasing an additional 2,126 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of First Trust Cloud Computing ETF by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 297,788 shares of the company’s stock valued at $26,107,000 after buying an additional 4,739 shares during the last quarter.

First Trust Cloud Computing ETF Stock Performance

Shares of SKYY opened at $99.33 on Wednesday. First Trust Cloud Computing ETF has a fifty-two week low of $70.42 and a fifty-two week high of $100.24. The firm has a 50-day simple moving average of $94.88 and a 200-day simple moving average of $94.23. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06.

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.