Black Point Wealth Management Cuts Stock Position in First Trust Cloud Computing ETF (NASDAQ:SKYY)

Black Point Wealth Management cut its holdings in shares of First Trust Cloud Computing ETF (NASDAQ:SKYY) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,583 shares of the company’s stock after selling 191 shares during the quarter. First Trust Cloud Computing ETF makes up about 0.5% of Black Point Wealth Management’s investment portfolio, making the stock its 27th biggest position. Black Point Wealth Management’s holdings in First Trust Cloud Computing ETF were worth $427,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Renaissance Technologies LLC bought a new position in shares of First Trust Cloud Computing ETF during the 2nd quarter valued at about $325,000. Mercer Global Advisors Inc. ADV boosted its stake in First Trust Cloud Computing ETF by 35.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 4,647 shares of the company’s stock valued at $444,000 after buying an additional 1,211 shares during the last quarter. AE Wealth Management LLC purchased a new position in First Trust Cloud Computing ETF during the 2nd quarter valued at approximately $593,000. 1832 Asset Management L.P. increased its stake in First Trust Cloud Computing ETF by 20.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,122 shares of the company’s stock worth $107,000 after acquiring an additional 188 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of First Trust Cloud Computing ETF by 61.3% during the 2nd quarter. Bank of Montreal Can now owns 8,250 shares of the company’s stock worth $792,000 after acquiring an additional 3,136 shares in the last quarter.

First Trust Cloud Computing ETF Stock Performance

NASDAQ SKYY opened at $126.75 on Friday. The stock has a 50 day moving average price of $122.30 and a 200-day moving average price of $107.74. First Trust Cloud Computing ETF has a one year low of $83.45 and a one year high of $131.13. The company has a market capitalization of $3.82 billion, a P/E 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.