First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Sees Large Volume Increase - Time to Buy?

Key Points

• Trading volume spike: QCLN traded about 810,474 shares mid-day — a roughly 750% increase from the prior session — and the price was about $57.02 (up ~1.5%).
• Dividend cut: The fund paid a quarterly dividend of $0.0068 (annualized $0.03), implying a near-0% yield after the recent reduction.
• Institutional buying: Several large institutions increased holdings in Q4, most notably Northwestern Mutual, which added ~2.82 million shares (about $126.8M), with Wells Fargo, UBS, LPL and RBC also raising positions.

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN - ) saw unusually-strong trading volume on Thursday . Approximately 810,474 shares were traded during mid-day trading, an increase of 750% from the previous session's volume of 95,309 shares.The stock last traded at $57.0190 and had previously closed at $56.16.

First Trust NASDAQ Clean Edge Green Energy Index Fund Stock Up 1.5%

The firm has a 50-day simple moving average of $48.91 and a 200-day simple moving average of $47.32. The stock has a market cap of $660.96 million, a PE ratio of 23.20 and a beta of 1.46.

First Trust NASDAQ Clean Edge Green Energy Index Fund Cuts Dividend

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

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

Several hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in First Trust NASDAQ Clean Edge Green Energy Index Fund by 14,156.1% in 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 in the last quarter. Wells Fargo & Company MN increased its holdings in shares of 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 worth $13,065,000 after purchasing an additional 85,902 shares during the period. UBS Group AG raised its position in shares of 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 worth $12,045,000 after buying an additional 156,142 shares in the last quarter. LPL Financial LLC grew its position in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 27.6% in the 4th quarter. LPL Financial LLC now owns 250,739 shares of the company's stock worth $11,181,000 after buying an additional 54,286 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 55.7% during the fourth quarter. Royal Bank of Canada now owns 179,386 shares of the company's stock valued at $8,000,000 after buying an additional 64,165 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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