SKYY’s Weekly Performance Remained Pale
The Internet of Things: Growing Opportunities for Enterprises
Overview
In this article we’ll examine the performance of cloud computing stocks within the broader technology sector, and track the weekly performance of the First Trust ISE Cloud Computing ETF (SKYY) and its components. SKYY closed at $30.40 with a positive return of 0.50% on Friday, October 30, 2015, generating a profit of 0.26% for the week.
From October 26 to October 30, 2015, the technology sector’s performance remained below average. The Global X Social Media ETF (SOCL), the iShares S&P Global Technology Sector ETF (IXN), and the First Trust NASDAQ CEA Smartphone ETF (FONE) have generated 1.4%,-0.7%, and -0.7%, respectively, for the trailing five days.
Subsector performance
Technology hardware was the worst-performing sector, with a return of -2.1%. Within the sector, Hewlett-Packard (HPQ) generated returns of -7.1% for the trailing five days, followed by NetApp (NTAP) with -1.3%. The next worst-performing sector was the home entertainment software sector, generating a return of -1.4%. Companies within the home entertainment software sector include Zynga (ZNGA) and Activision Blizzard (ATVI), which had negative returns of -2.5% and -0.40%, respectively.
Internet retail was the best-performing sector, generating a return of 6.4% for the trailing five days. Stock performance remained above average for this sector compared with others. Within this sector, on October 30, 2015, Amazon (AMZN) and Netflix (NFLX) were the best-performing stocks, generating returns of 4.5% and 8.3%, respectively, for the trailing five days.
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