First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Reaches New 12-Month High - Still a Buy?

Key Points

• Shares of the First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ: GRID) reached a new 52-week high of $153.87, indicating strong trading activity with 226,390 shares changing hands.
• The fund has recently seen an increase in institutional interest, with Osaic Holdings Inc. increasing its stake by 15.7% during the second quarter.
• The fund announced a quarterly dividend of $0.2357, resulting in an annualized dividend of $0.94 and a yield of 0.6% for shareholders.

Shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $153.87 and last traded at $153.47, with a volume of 226390 shares changing hands. The stock had previously closed at $152.25.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Trading Up 0.8%

The company has a 50-day moving average of $145.66 and a 200-day moving average of $133.48. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 23.47 and a beta of 1.25.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 25th were given a $0.2357 dividend. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $0.94 annualized dividend and a yield of 0.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. grew its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 15.7% in the second quarter. Osaic Holdings Inc. now owns 88,166 shares of the company's stock worth $12,220,000 after purchasing an additional 11,940 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the second quarter worth $2,616,000. Nautilus Advisors LLC bought a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the second quarter worth $209,000. Advisory Services Network LLC grew its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 10.3% in the second quarter. Advisory Services Network LLC now owns 3,242 shares of the company's stock worth $461,000 after purchasing an additional 302 shares in the last quarter. Finally, First Heartland Consultants Inc. grew its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 6.8% in the second quarter. First Heartland Consultants Inc. now owns 77,445 shares of the company's stock worth $10,766,000 after purchasing an additional 4,926 shares in the last quarter.

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.

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