First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Hits New 1-Year High - Here's Why

Key Points

• GRID hit a new 52-week high Thursday, trading as high as $198.00 (last $197.73) and was up about 2.2% on the session with heavy volume.
• The fund recently disclosed a quarterly dividend of $0.1004 per share (annualized $0.40), implying a yield of roughly 0.2%.
• Several institutional investors increased or initiated positions in Q1, notably Assetmark (up 78.5%, +26,641 shares) and new/more sizable stakes from Cornerstone Planning and Independent Financial Group.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) shares hit a new 52-week high on Thursday . The company traded as high as $198.00 and last traded at $197.73, with a volume of 1381743 shares traded. The stock had previously closed at $193.49.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Stock Up 2.2%

The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 23.47 and a beta of 1.28. The stock's fifty day moving average is $173.90 and its two-hundred day moving average is $163.69.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Cuts Dividend

The business 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 $0.1004 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Investors Weigh In On First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

A number of institutional investors have recently modified their holdings of the business. World Equity Group Inc. lifted its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 10.7% during the first quarter. World Equity Group Inc. now owns 2,128 shares of the company's stock worth $348,000 after purchasing an additional 205 shares during the period. Cornerstone Planning Group LLC acquired a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the first quarter worth about $924,000. Assetmark Inc. increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 78.5% in the first quarter. Assetmark Inc. now owns 60,597 shares of the company's stock valued at $9,912,000 after buying an additional 26,641 shares during the period. Independent Financial Group LLC acquired a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the first quarter valued at approximately $3,348,000. Finally, Gaddis Premier Wealth Advisors LLC increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 2.5% in the first quarter. Gaddis Premier Wealth Advisors LLC now owns 30,881 shares of the company's stock valued at $5,052,000 after buying an additional 763 shares during the period.

About First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (the Fund) seeks investment results, which correspond to the price and yield (before the Fund's fees and expenses) of an equity index called the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index (the Index). The Fund focuses to invest at least 90% of its net assets in common stocks, which comprises the Index or in depositary receipts, which may include American depositary receipts (ADRs), global depositary receipts (GDRs), European depositary receipts (EDRs) or other depositary receipts (collectively Depositary Receipts) representing securities in the Index.

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