First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Reaches New 12-Month High - What's Next?

Key Points

• The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) reached a new 52-week high of $148.36, reflecting a growth of 2.5% on the day.
• The fund has recently increased its quarterly dividend to $0.8347 per share, up from the previous dividend of $0.14, resulting in a yield of 2.3%.
• Institutional investors are actively increasing their stakes, with firms like Bank of America and LPL Financial boosting their holdings significantly in recent quarters.

Shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $148.33 and last traded at $148.36, with a volume of 69370 shares. The stock had previously closed at $144.32.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Stock Up 0.7%

The company has a fifty day simple moving average of $142.79 and a two-hundred day simple moving average of $129.73. The stock has a market capitalization of $3.08 billion, a P/E ratio of 23.47 and a beta of 1.25.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were issued a dividend of $0.8347 per share. This is a boost from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund's previous quarterly dividend of $0.14. This represents a $3.34 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, June 26th.

Institutional Trading of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

A number of institutional investors have recently modified their holdings of the company. Ameriflex Group Inc. bought a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. bought a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the first quarter worth about $33,000. Hilltop National Bank bought a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the second quarter worth about $36,000. Crewe Advisors LLC raised its holdings in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 175.0% during the second quarter. Crewe Advisors LLC now owns 275 shares of the company's stock worth $38,000 after acquiring an additional 175 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the first quarter worth about $49,000.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Company Profile

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.