First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Short Interest Update

Key Points

• The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) experienced a significant increase in short interest, rising 41.2% to 273,300 shares by August 31st.
• The fund recently declared a quarterly dividend of $0.8347, marking an increase from its previous dividend and resulting in an annualized yield of 2.2%.
• The fund's stock price is showing strong performance with a market capitalization of $3.07 billion and a 1-year trading range between $99.78 and $149.63.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - Get Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 273,300 shares, an increase of 41.2% from the August 15th total of 193,500 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 222,000 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 222,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.3% of the shares of the company are sold short.

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

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 5.4% during the second quarter. Bank of America Corp DE now owns 1,193,672 shares of the company's stock worth $165,944,000 after acquiring an additional 61,496 shares during the period. LPL Financial LLC raised its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 14.8% during the first quarter. LPL Financial LLC now owns 772,908 shares of the company's stock worth $87,439,000 after acquiring an additional 99,676 shares during the period. Traphagen Investment Advisors LLC grew its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 5.4% in the 1st quarter. Traphagen Investment Advisors LLC now owns 345,410 shares of the company's stock worth $39,076,000 after purchasing an additional 17,678 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 9.1% in the second quarter. Raymond James Financial Inc. now owns 328,446 shares of the company's stock valued at $45,661,000 after purchasing an additional 27,411 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 3.7% in the second quarter. Ameriprise Financial Inc. now owns 314,059 shares of the company's stock valued at $43,634,000 after purchasing an additional 11,313 shares during the period.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Trading Up 0.0%

GRID traded up $0.05 on Friday, hitting $149.36. 243,112 shares of the company's stock were exchanged, compared to its average volume of 185,645. The firm has a market cap of $3.08 billion, a PE ratio of 23.47 and a beta of 1.25. First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund has a twelve month low of $99.78 and a twelve month high of $149.92. The stock has a fifty day moving average of $143.82 and a two-hundred day moving average of $130.78.

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

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were paid a dividend of $0.8347 per share. This represents a $3.34 annualized dividend and a yield of 2.2%. This is a positive change 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.

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.