First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Hits New 12-Month High - Time to Buy?

Key Points

• The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) reached a new 52-week high, trading at $151.92, with a market cap of $3.13 billion.
• Recently, the fund declared a quarterly dividend of $0.2357 per share, reflecting an annualized yield of 0.6%.
• Several hedge funds have increased their holdings in the fund, with CreativeOne Wealth LLC raising its stake by 4.3% in the first quarter.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - )'s share price hit a new 52-week high on Wednesday . The company traded as high as $151.92 and last traded at $151.48, with a volume of 48585 shares trading hands. The stock had previously closed at $151.08.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Price Performance

The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 23.47 and a beta of 1.25. The business's 50-day simple moving average is $145.02 and its two-hundred day simple moving average is $132.44.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were issued a dividend of $0.2357 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, September 25th.

Hedge Funds Weigh In On First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

A number of hedge funds have recently modified their holdings of the business. Rathbones Group PLC lifted its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 0.4% during the second quarter. Rathbones Group PLC now owns 17,262 shares of the company's stock worth $2,400,000 after purchasing an additional 72 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 4.3% during the first quarter. CreativeOne Wealth LLC now owns 1,951 shares of the company's stock worth $221,000 after purchasing an additional 80 shares during the period. Creative Planning lifted its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 4.3% during the second quarter. Creative Planning now owns 2,128 shares of the company's stock worth $296,000 after purchasing an additional 87 shares during the period. Capital Investment Advisory Services LLC lifted its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 5.2% during the first quarter. Capital Investment Advisory Services LLC now owns 1,851 shares of the company's stock worth $209,000 after purchasing an additional 91 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 5.5% during the second quarter. IFP Advisors Inc now owns 1,836 shares of the company's stock worth $255,000 after purchasing an additional 96 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.