First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Shares Gap Up - Here's Why

Key Points

• QCLN shares gapped higher, opening at $51.28 versus the prior close of $46.48, and last traded at $49.4130 on volume of 29,396 shares.
• The fund has a market capitalization of approximately $611.4 million, a price-to-earnings ratio of 23.20 and a beta of 1.62; its 50-day and 200-day moving averages are $58.77 and $53.94, respectively.
• Institutional ownership increased, with Royal Bank of Canada raising its stake by 55.7%, Osaic Holdings by 40.5% and LPL Financial by 27.6% in the reported periods.

Shares of First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN - ) gapped up before the market opened on Friday . The stock had previously closed at $46.48, but opened at $51.28. First Trust NASDAQ Clean Edge Green Energy Index Fund shares last traded at $49.4130, with a volume of 29,396 shares trading hands.

First Trust NASDAQ Clean Edge Green Energy Index Fund Stock Up 1.1%

The stock has a market capitalization of $611.39 million, a price-to-earnings ratio of 23.20 and a beta of 1.62. The stock's 50-day simple moving average is $58.77 and its 200 day simple moving average is $53.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. raised its position in First Trust NASDAQ Clean Edge Green Energy Index Fund by 40.5% in the 4th quarter. Osaic Holdings Inc. now owns 53,939 shares of the company's stock valued at $2,405,000 after purchasing an additional 15,536 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund during the third quarter worth $3,778,000. CIBC Private Wealth Group LLC grew its holdings in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 90,880 shares of the company's stock worth $4,053,000 after purchasing an additional 849 shares during the last quarter. Royal Bank of Canada increased its stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 55.7% in 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 in the last quarter. Finally, LPL Financial LLC increased its stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 27.6% in the fourth quarter. LPL Financial LLC now owns 250,739 shares of the company's stock valued at $11,181,000 after buying an additional 54,286 shares in 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. 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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