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

Key Points

• The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ: GRID) reached a new 52-week high of $145.97 during mid-day trading, with a latest trading price of $143.86.
• Quarterly dividends have increased to $0.8347 per share, marking a significant rise from the previous dividend of $0.14, resulting in a 2.3% dividend yield.
• Large investors are actively engaging with the fund, with various institutions such as Ameriflex Group Inc. and Crewe Advisors LLC making significant stake adjustments recently.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $145.97 and last traded at $143.86, with a volume of 327 shares trading hands. The stock had previously closed at $144.17.

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

The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 23.47 and a beta of 1.25. The stock's 50 day simple moving average is $141.49 and its 200-day simple moving average is $128.16.

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

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a dividend of $0.8347 per share. This represents a $3.34 dividend on an annualized basis and a yield of 2.3%. 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.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GRID. Renaissance Technologies LLC acquired a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 4th quarter valued at approximately $358,000. Susquehanna International Group LLP acquired a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the fourth quarter worth $2,450,000. Comerica Bank increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 32.1% in the fourth quarter. Comerica Bank now owns 7,953 shares of the company's stock worth $949,000 after acquiring an additional 1,931 shares during the period. Ameriprise Financial Inc. increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 53.4% in the fourth quarter. Ameriprise Financial Inc. now owns 220,594 shares of the company's stock worth $26,318,000 after acquiring an additional 76,798 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 6.6% in the fourth quarter. Benjamin Edwards Inc. now owns 19,220 shares of the company's stock worth $2,294,000 after acquiring an additional 1,195 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.