First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Sets New 12-Month High - Should You Buy?

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $131.66 and last traded at $131.66, with a volume of 73190 shares changing hands. The stock had previously closed at $128.98.

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

The firm has a 50 day simple moving average of $118.48 and a two-hundred day simple moving average of $120.48. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 24.79 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 Monday, March 31st. Shareholders of record on Thursday, March 27th were paid a $0.1394 dividend. This represents a $0.56 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, March 27th.

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

Several hedge funds have recently added to or reduced their stakes in GRID. Janney Montgomery Scott LLC lifted its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 114.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,727 shares of the company's stock valued at $3,667,000 after buying an additional 16,366 shares during the period. Geneos Wealth Management Inc. lifted its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 119.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 438 shares of the company's stock valued at $52,000 after buying an additional 238 shares during the period. Blue Trust Inc. lifted its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 23.9% in the fourth quarter. Blue Trust Inc. now owns 1,104 shares of the company's stock valued at $140,000 after buying an additional 213 shares during the period. Foundations Investment Advisors LLC acquired a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the fourth quarter worth about $270,000. Finally, SteelPeak Wealth LLC raised its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 32.4% during the fourth quarter. SteelPeak Wealth LLC now owns 3,576 shares of the company's stock worth $427,000 after purchasing an additional 875 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.