First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Shares Down 0.7% - Time to Sell?

Key Points

• GRID shares fell 0.7% to about $185.17 in Monday trading, with volume down 59% from its average. The fund has a $11.97 billion market capitalization, a 1.26 beta, and trades at a price-to-earnings ratio of 23.47.
• The fund increased its quarterly dividend to $0.7555 per share, or $3.02 annualized, representing a 1.6% yield and a substantial rise from the prior $0.10 quarterly payout.
• Several institutional investors increased their GRID positions, while the ETF continues to target at least 90% of its assets toward stocks or depositary receipts in the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index.

Shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) traded down 0.7% during trading on Monday . The stock traded as low as $185.09 and last traded at $185.17. Approximately 283,933 shares were traded during mid-day trading, a decline of 59% from the average session volume of 690,333 shares. The stock had previously closed at $186.43.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Trading Down 0.7%

The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 23.47 and a beta of 1.26. The stock's 50 day moving average is $185.43 and its two-hundred day moving average is $179.65.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.7555 per share. This represents a $3.02 annualized dividend and a dividend yield of 1.6%. This is a positive change from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund's previous quarterly dividend of $0.10. The ex-dividend date was Thursday, June 25th.

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

Several institutional investors have recently added to or reduced their stakes in GRID. JNBA Financial Advisors grew its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 150.0% in the 4th quarter. JNBA Financial Advisors now owns 615 shares of the company's stock valued at $94,000 after buying an additional 369 shares during the last quarter. Prosperity Financial Group Inc. raised its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 9.5% during the 4th quarter. Prosperity Financial Group Inc. now owns 6,519 shares of the company's stock worth $998,000 after buying an additional 567 shares during the last quarter. United Advisor Group LLC lifted its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 2.5% in the 4th quarter. United Advisor Group LLC now owns 6,289 shares of the company's stock worth $962,000 after acquiring an additional 154 shares during the period. Second Half Financial Partners LLC acquired a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the 4th quarter worth $217,000. Finally, PFG Investments LLC boosted its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 13.0% in the fourth quarter. PFG Investments LLC now owns 48,334 shares of the company's stock valued at $7,396,000 after acquiring an additional 5,549 shares in the last quarter.

About First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source