First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 61% to 90,167 shares as of July 15, down from 231,184 shares on June 30. QCLN’s days-to-cover ratio is 0.4, with short interest equal to approximately 0.7% of shares outstanding.
• QCLN opened at $49.26, below its 50-day moving average of $59.66 but above its 200-day average of $53.93. The fund has a $610.82 million market capitalization and a 52-week trading range of $34.27 to $69.20.
• Several institutional investors increased their positions, including Goldman Sachs, Jane Street, Comerica Bank and NewEdge Advisors; Focus Partners Wealth also established a new stake. QCLN tracks clean-energy companies involved in areas such as solar power, biofuels and advanced batteries.

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN - ) saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 90,167 shares, a decrease of 61.0% from the June 30th total of 231,184 shares. Based on an average daily volume of 240,434 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.7% of the shares of the company are short sold.

First Trust NASDAQ Clean Edge Green Energy Index Fund Stock Performance

Shares of QCLN opened at $49.26 on Monday. The business's 50-day moving average is $59.66 and its two-hundred day moving average is $53.93. The company has a market capitalization of $610.82 million, a P/E ratio of 23.20 and a beta of 1.62. First Trust NASDAQ Clean Edge Green Energy Index Fund has a fifty-two week low of $34.27 and a fifty-two week high of $69.20.

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

A number of hedge funds have recently modified their holdings of the stock. Comerica Bank grew its holdings in First Trust NASDAQ Clean Edge Green Energy Index Fund by 18.7% during the first quarter. Comerica Bank now owns 3,367 shares of the company's stock worth $96,000 after acquiring an additional 530 shares during the period. Goldman Sachs Group Inc. boosted its position in 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 worth $1,261,000 after purchasing an additional 9,175 shares in the last quarter. Jane Street Group LLC boosted its position in First Trust NASDAQ Clean Edge Green Energy Index Fund by 4.8% in the 1st quarter. Jane Street Group LLC now owns 44,725 shares of the company's stock worth $1,280,000 after purchasing an additional 2,029 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund during the 1st quarter worth approximately $230,000. Finally, NewEdge Advisors LLC grew its stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 7.7% during the 2nd quarter. NewEdge Advisors LLC now owns 19,861 shares of the company's stock worth $649,000 after purchasing an additional 1,427 shares during the period.

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. 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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