First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Reaches New 52-Week High - Time to Buy?

Key Points

• Shares of the First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) reached a new 52-week high of $149.97, signaling strong market interest as over 66,000 shares were traded.
• The fund recently increased its quarterly dividend significantly to $0.8347 per share, reflecting an annualized yield of 2.2%, up from the previous quarterly dividend of $0.14.
• Institutional investors are actively participating, with several hedge funds including Ameriflex Group Inc. and Hazlett Burt & Watson Inc. purchasing new stakes in the fund, indicating growing institutional confidence.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $149.97 and last traded at $149.97, with a volume of 66722 shares traded. The stock had previously closed at $149.36.

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

The company has a market capitalization of $3.12 billion, a PE ratio of 23.47 and a beta of 1.25. The stock's 50 day simple moving average is $144.06 and its 200-day simple moving average is $131.12.

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

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

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

A number of large investors have recently made changes to their positions in the company. Rathbones Group PLC increased its stake 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 buying an additional 72 shares during the period. CreativeOne Wealth LLC increased its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 4.3% in the first quarter. CreativeOne Wealth LLC now owns 1,951 shares of the company's stock valued at $221,000 after purchasing an additional 80 shares during the last quarter. Creative Planning increased its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 4.3% in the second quarter. Creative Planning now owns 2,128 shares of the company's stock valued at $296,000 after purchasing an additional 87 shares during the last quarter. Capital Investment Advisory Services LLC increased its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 5.2% in the first quarter. Capital Investment Advisory Services LLC now owns 1,851 shares of the company's stock valued at $209,000 after purchasing an additional 91 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 5.5% in the second quarter. IFP Advisors Inc now owns 1,836 shares of the company's stock valued at $255,000 after purchasing an additional 96 shares during 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.