First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Hits New 12-Month High - What's Next?

Key Points

• The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) reached a new 52-week high of $149.44, showing increased market interest with a trading volume of 186,541 shares.
• The fund has increased its quarterly dividend to $0.8347, resulting in an annual yield of 2.2%, up from a previous dividend of $0.14.
• Institutional investors have been active, with Osaic Holdings Inc. raising its stake by 15.7% and other firms acquiring new positions in the fund during the second quarter.

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 trading on Tuesday . The company traded as high as $149.44 and last traded at $149.31, with a volume of 186541 shares traded. The stock had previously closed at $148.32.

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

The firm's fifty day simple moving average is $143.82 and its 200 day simple moving average is $130.68. The stock has a market capitalization of $3.08 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 Increases Dividend

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

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

A number of hedge funds have recently made changes to their positions in GRID. Ameriflex Group Inc. purchased a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 4th quarter worth $26,000. Hazlett Burt & Watson Inc. purchased a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the first quarter worth about $33,000. Hilltop National Bank acquired a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 2nd quarter valued at approximately $36,000. Crewe Advisors LLC increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 175.0% during the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the company's stock worth $38,000 after purchasing an additional 175 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 1st quarter valued at $49,000.

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.