Sun Sep 15 16:16:49 UTC 2024: ## Cloud Computing ETF Sees Increased Interest from Hedge Funds

**New York, NY** – Several prominent hedge funds have increased their holdings in the **First Trust Cloud Computing ETF (SKYY)**, indicating growing confidence in the cloud computing industry.

HBK Sorce Advisory LLC significantly boosted its position in SKYY by 29.8% in the second quarter, acquiring an additional 1,300 shares. The fund’s total holdings in SKYY are now worth $540,000.

Other notable investors who have increased their stakes in SKYY include:

* **Wells Fargo & Company MN** (up 1.6%)
* **Raymond James & Associates** (up 0.4%)
* **PNC Financial Services Group Inc.** (up 2.0%)
* **Private Advisor Group LLC** (up 18.1%)
* **Commonwealth Equity Services LLC** (up 3.6%)

This surge in investment comes as the cloud computing sector continues to experience strong growth. The First Trust Cloud Computing ETF, which tracks a basket of companies involved in the industry, has seen its share price rise steadily, currently trading at $98.43.

SKYY has a market cap of $3.02 billion, a price-to-earnings ratio of 33.21 and a beta of 1.06. The stock’s 50-day moving average is $94.76, and its 200-day moving average is $94.17. The ETF has a one-year low of $70.42 and a one-year high of $99.06.

**SKYY launched in July 2011 and is managed by First Trust.** The ETF is based on the ISE Cloud Computing index, which includes companies that offer services such as cloud infrastructure, software, and data storage.

Investors interested in the cloud computing sector can find detailed information about SKYY and its holdings on **HoldingsChannel.com**. To stay updated on the latest news and analyst ratings for SKYY and related companies, sign up for MarketBeat.com’s FREE daily email newsletter.

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