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SKYY Weekly Performance Remained Balanced on October 20

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Overview

In this article, we will examine the performance of the cloud computing stocks within the broad technology sector. We will track the weekly performance of the First Trust ISE Cloud Computing Index ETF (SKYY), as well as its components.

SKYY closed at $30.12 with a positive return of 0.23% on Tuesday, October 20, 2015, generating a profit of 0.84% for the week.

From September 12–September 19, 2015, the performance of the technology sector remained miserable. For the trailing five days, the Global X Social Media ETF (SOCL), the iShares S&P Global Technology ETF (IXN), and the First Trust NASDAQ CEA Smartphone ETF (FONE) have generated returns of 3.52%,1.42%, and 3.14%, respectively.

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Subsector performance

Internet Retail was the worst-performing sector, generating a return of -3.10%. Within the sector, Netflix (NFLX) and Amazon (AMZN) generated returns of -10.37% and 4.17%, respectively, for the trailing five days. Netflix’s negative performance could result from the market’s reaction to its 3Q15 earnings.

Technology Hardware was the next worst-performing sector, generating a return of -0.57%. The Technology Hardware sector includes EMC (EMC) and Hewlett-Packard (HPQ), which showed returns of -2.22% and -1.09%, respectively.

Application Software remained the best-performing sector last week, with a return of 3.22% for the trailing five days. Within this sector, SAP, Adobe, and Salesforce.com were the best performers, generating returns of 9.22%, 5.34, and 2.70%, respectively.

The Communications Equipment sector performed relatively well, generating a return of 0.78% for the trailing five days. This sector’s stock performance did reasonably well compared to the other sectors. Within this sector, EVS Broadcast Equipment (EVS), Cisco Systems, (CSCO), and Juniper Networks (JNPR) were the best-performing stocks, generating returns of 2.42%, 1.04%, and 0.71%, respectively, for the trailing five days on October 19, 2015.

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