Concorde Asset Management LLC Reduces Stock Position in First Trust Cloud Computing ETF $SKYY

Concorde Asset Management LLC cut its stake in First Trust Cloud Computing ETF (NASDAQ:SKYY) by 29.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,129 shares of the company’s stock after selling 8,159 shares during the quarter. First Trust Cloud Computing ETF accounts for about 1.5% of Concorde Asset Management LLC’s investment portfolio, making the stock its 21st largest holding. Concorde Asset Management LLC owned 0.10% of First Trust Cloud Computing ETF worth $2,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in First Trust Cloud Computing ETF by 12,567.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,301,211 shares of the company’s stock worth $429,422,000 after purchasing an additional 3,275,151 shares during the last quarter. LPL Financial LLC raised its stake in First Trust Cloud Computing ETF by 2.0% during the 4th quarter. LPL Financial LLC now owns 917,710 shares of the company’s stock valued at $119,376,000 after buying an additional 17,690 shares during the last quarter. UBS Group AG lifted its holdings in shares of First Trust Cloud Computing ETF by 2.1% during the 3rd quarter. UBS Group AG now owns 538,996 shares of the company’s stock valued at $72,452,000 after buying an additional 11,236 shares during the period. Wells Fargo & Company MN boosted its stake in shares of First Trust Cloud Computing ETF by 16.4% in the 4th quarter. Wells Fargo & Company MN now owns 335,915 shares of the company’s stock worth $43,696,000 after buying an additional 47,229 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of First Trust Cloud Computing ETF by 12.7% in the 1st quarter. Royal Bank of Canada now owns 212,254 shares of the company’s stock worth $23,212,000 after buying an additional 23,847 shares during the last quarter.

First Trust Cloud Computing ETF Stock Performance

First Trust Cloud Computing ETF stock opened at $159.62 on Wednesday. The stock has a fifty day moving average of $149.64 and a 200 day moving average of $131.75. The stock has a market cap of $3.19 billion, a PE ratio of 33.85 and a beta of 1.26. First Trust Cloud Computing ETF has a one year low of $103.76 and a one year high of $169.05.

First Trust Cloud Computing ETF Company 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.