First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Reaches New 1-Year High - Should You Buy?

Key Points

• New 52-week high: QCLN hit a fresh 52-week high of $59.38 (last $59.07) on Monday with ~193,494 shares traded, and trades with a market cap of about $732.3M, P/E of 23.2 and 50-/200-day moving averages of $49.70/$47.88.
• Dividend cut / near-zero yield: The fund paid a quarterly dividend of $0.0068 (annualized $0.03), implying a roughly 0.0% dividend yield after the recent cut.
• Heavy institutional buying: Several institutions increased stakes recently, most notably Northwestern Mutual (boosted to 2,843,100 shares, a +14,156% change), while UBS, Wells Fargo and others also added positions.

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN - )'s share price hit a new 52-week high on Monday . The company traded as high as $59.38 and last traded at $59.0740, with a volume of 193494 shares traded. The stock had previously closed at $59.19.

First Trust NASDAQ Clean Edge Green Energy Index Fund Stock Performance

The firm has a market cap of $732.27 million, a P/E ratio of 23.20 and a beta of 1.60. The company's 50 day moving average is $49.70 and its 200 day moving average is $47.88.

First Trust NASDAQ Clean Edge Green Energy Index Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a $0.0068 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.03 annualized dividend and a dividend yield of 0.0%.

Institutional Trading of First Trust NASDAQ Clean Edge Green Energy Index Fund

A number of institutional investors and hedge funds have recently bought and sold shares of QCLN. Northwestern Mutual Wealth Management Co. increased its holdings in First Trust NASDAQ Clean Edge Green Energy Index Fund by 14,156.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,843,100 shares of the company's stock valued at $126,774,000 after purchasing an additional 2,823,157 shares during the period. UBS Group AG increased its holdings in First Trust NASDAQ Clean Edge Green Energy Index Fund by 137.0% in the fourth quarter. UBS Group AG now owns 270,109 shares of the company's stock valued at $12,045,000 after purchasing an additional 156,142 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in First Trust NASDAQ Clean Edge Green Energy Index Fund in the fourth quarter valued at $4,046,000. CIBC Bancorp USA Inc. acquired a new stake in First Trust NASDAQ Clean Edge Green Energy Index Fund in the third quarter valued at $3,778,000. Finally, Wells Fargo & Company MN increased its holdings in First Trust NASDAQ Clean Edge Green Energy Index Fund by 41.5% in the fourth quarter. Wells Fargo & Company MN now owns 292,986 shares of the company's stock valued at $13,065,000 after purchasing an additional 85,902 shares during the period.

First Trust NASDAQ Clean Edge Green Energy Index Fund Company Profile

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. Liquid Series Index). The Index is an equity index designed to track the performance of clean energy companies that are publicly traded in the United States, and includes companies engaged in the manufacturing, development, distribution and installation of clean-energy technologies, including, but not limited to, solar photovoltaics, biofuels and advanced batteries.

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