First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Hits New 52-Week High - Here's Why

Key Points

• The First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) reached a new 52-week high of $43.30, trading at $43.21 with a volume of 115,720 shares.
• The fund recently increased its quarterly dividend to $0.0323 per share from the previous $0.02, representing a 0.3% dividend yield.
• Several hedge funds, including Kingstone Capital Partners, have significantly increased their positions in the fund, indicating growing institutional interest.

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN - ) reached a new 52-week high on Wednesday . The stock traded as high as $43.30 and last traded at $43.21, with a volume of 115720 shares changing hands. The stock had previously closed at $41.96.

First Trust NASDAQ Clean Edge Green Energy Index Fund Price Performance

The company has a market capitalization of $518.52 million, a PE ratio of 23.20 and a beta of 1.49. The stock's 50 day simple moving average is $37.92 and its 200-day simple moving average is $33.09.

First Trust NASDAQ Clean Edge Green Energy Index Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were paid a $0.0323 dividend. The ex-dividend date was Thursday, September 25th. This is an increase from First Trust NASDAQ Clean Edge Green Energy Index Fund's previous quarterly dividend of $0.02. This represents a $0.13 annualized dividend and a dividend yield of 0.3%.

Hedge Funds Weigh In On First Trust NASDAQ Clean Edge Green Energy Index Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new position in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund during the 2nd quarter worth about $51,373,000. Wealthfront Advisers LLC raised its holdings in First Trust NASDAQ Clean Edge Green Energy Index Fund by 107.7% during the second quarter. Wealthfront Advisers LLC now owns 35,402 shares of the company's stock worth $1,157,000 after purchasing an additional 18,359 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund during the 4th quarter worth approximately $340,000. Goldman Sachs Group Inc. boosted its holdings in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,063 shares of the company's stock valued at $1,261,000 after buying an additional 9,175 shares in the last quarter. Finally, Flow Traders U.S. LLC grew its position in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 60.6% in the 1st quarter. Flow Traders U.S. LLC now owns 22,449 shares of the company's stock valued at $642,000 after buying an additional 8,470 shares during the last quarter.

About First Trust NASDAQ Clean Edge Green Energy Index Fund

First Trust NASDAQ Clean Edge Green Energy Index Fund (the Fund), formerly First Trust NASDAQ Clean Edge U.S. Liquid Series Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the NASDAQ Clean Edge Green Energy Index (the Index) (formerly NASDAQ Clean Edge U.S.

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