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

Key Points

• First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) hit a new 52-week high of $52.30 (last $52.156), trading up about 2.9% on ~45,600 shares, with a market cap of $606.2M and 50-/200-day moving averages of $48.36/$46.80.
• The fund cut its dividend, paying a quarterly $0.0068 per share (annualized $0.03) for a yield of roughly 0.1%, with an ex-dividend date of March 26 and payment on March 31.
• Significant institutional activity: Northwestern Mutual massively boosted its stake to 2,843,100 shares (≈$126.8M), while UBS, Wells Fargo and others also grew or initiated positions in QCLN.

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN - )'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $52.30 and last traded at $52.1560, with a volume of 45600 shares traded. The stock had previously closed at $50.55.

First Trust NASDAQ Clean Edge Green Energy Index Fund Trading Up 2.9%

The company's 50 day moving average is $48.36 and its 200 day moving average is $46.80. The stock has a market capitalization of $606.20 million, a price-to-earnings ratio of 23.20 and a beta of 1.46.

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. Shareholders of record on Thursday, March 26th were given a dividend of $0.0068 per share. This represents a $0.03 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Inflows and Outflows

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.