First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Sees Large Growth in Short Interest

Key Points

• Short interest in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) surged by 288.7% to 496,573 shares as of April 15, equal to about 1.0% of shares outstanding, with a days-to-cover ratio of 0.7 days.
• GRID traded at $187.20 (near its 52‑week high of $187.49), has a market cap of $9.65 billion and a P/E of 23.47, and it recently paid a quarterly dividend that annualizes to $0.40 for a 0.2% yield.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 496,573 shares, a growth of 288.7% from the March 31st total of 127,758 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 691,192 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in GRID. Rossby Financial LCC grew its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 5.9% during the fourth quarter. Rossby Financial LCC now owns 1,151 shares of the company's stock worth $176,000 after buying an additional 64 shares in the last quarter. Private Advisory Group LLC grew its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 4.4% during the fourth quarter. Private Advisory Group LLC now owns 1,548 shares of the company's stock worth $237,000 after buying an additional 65 shares in the last quarter. Silver Oak Securities Incorporated grew its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 6.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,237 shares of the company's stock worth $191,000 after buying an additional 71 shares in the last quarter. TPG Financial Advisors LLC grew its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 3.8% during the fourth quarter. TPG Financial Advisors LLC now owns 1,983 shares of the company's stock worth $303,000 after buying an additional 73 shares in the last quarter. Finally, TFB Advisors LLC grew its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 4.8% during the third quarter. TFB Advisors LLC now owns 1,628 shares of the company's stock worth $248,000 after buying an additional 74 shares in the last quarter.

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

NASDAQ:GRID traded up $2.33 during midday trading on Friday, hitting $187.20. The company's stock had a trading volume of 2,123,114 shares, compared to its average volume of 642,951. First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund has a fifty-two week low of $116.24 and a fifty-two week high of $187.49. The firm's 50 day moving average is $172.11 and its 200-day moving average is $161.99. The firm has a market cap of $9.65 billion, a P/E ratio of 23.47 and a beta of 1.23.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were paid a dividend of $0.1004 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.