WisdomTree Cloud Computing Fund (NASDAQ:WCLD) Stock Price Down 2% - Here's What Happened

Key Points

• The WisdomTree Cloud Computing Fund (NASDAQ:WCLD) experienced a 2% drop in stock price during trading, falling to $35.06 from a previous close of $35.76.
• Institutional investors showed increased interest, with Curi Capital LLC boosting its stake by 13.5% and Ieq Capital LLC raising its holdings by 42.1% in the recent quarters.
• The fund, launched in 2019, tracks US companies focused on cloud software and services and has a market cap of approximately $352.35 million.

WisdomTree Cloud Computing Fund (NASDAQ:WCLD - Get Free Report)'s stock price was down 2% on Tuesday . The company traded as low as $34.68 and last traded at $35.06. Approximately 159,198 shares changed hands during trading, a decline of 19% from the average daily volume of 195,719 shares. The stock had previously closed at $35.76.

WisdomTree Cloud Computing Fund Stock Up 2.4%

The stock has a market cap of $359.49 million, a P/E ratio of -15.68 and a beta of 1.09. The business's 50-day simple moving average is $35.18 and its two-hundred day simple moving average is $34.51.

Institutional Investors Weigh In On WisdomTree Cloud Computing Fund

Institutional investors and hedge funds have recently modified their holdings of the company. North Star Investment Management Corp. purchased a new stake in shares of WisdomTree Cloud Computing Fund in the second quarter worth about $59,000. Banque Transatlantique SA purchased a new stake in shares of WisdomTree Cloud Computing Fund in the first quarter worth about $87,000. Creative Financial Designs Inc. ADV raised its stake in WisdomTree Cloud Computing Fund by 43,042.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 3,020 shares of the company's stock valued at $98,000 after purchasing an additional 3,013 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in WisdomTree Cloud Computing Fund in the fourth quarter valued at approximately $120,000. Finally, Opal Wealth Advisors LLC purchased a new stake in WisdomTree Cloud Computing Fund in the first quarter valued at approximately $127,000.

WisdomTree Cloud Computing Fund Company Profile

The WisdomTree Cloud Computing Fund (WCLD) is an exchange-traded fund that is based on the BVP Nasdaq Emerging Cloud index. The fund tracks and index of US companies primarily focused on cloud software and services. Stocks are equal weighted in the index. WCLD was launched on Sep 6, 2019 and is managed by WisdomTree.