First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Stock Price Down 0.4% - Time to Sell?

Key Points

• GRID shares slipped 0.4% in midday trading, last changing hands at $177.08 after trading as low as $176.79. Volume was lighter than usual, with 458,365 shares traded versus an average of 687,859.
• The fund’s price remains near its 200-day moving average of $177.14 but below its 50-day average of $189.20, suggesting recent weakness relative to its short-term trend.
• The ETF recently boosted its quarterly dividend to $0.7555 per share, equal to an annualized yield of about 1.7%, up sharply from the prior $0.10 quarterly payout.

Shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) dropped 0.4% during mid-day trading on Monday . The company traded as low as $176.79 and last traded at $177.08. 458,365 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 687,859 shares. The stock had previously closed at $177.85.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Trading Down 0.4%

The stock has a 50-day simple moving average of $189.20 and a 200 day simple moving average of $177.14. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 23.47 and a beta of 1.26.

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

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a dividend of $0.7555 per share. This represents a $3.02 dividend on an annualized basis and a dividend yield of 1.7%. 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 of this dividend was Thursday, June 25th.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 30.7% during the 4th quarter. Morgan Stanley now owns 2,948,976 shares of the company's stock valued at $451,252,000 after acquiring an additional 691,924 shares during the period. Bank of America Corp DE increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 19.1% in the first quarter. Bank of America Corp DE now owns 2,121,584 shares of the company's stock worth $347,049,000 after acquiring an additional 340,826 shares during the period. LPL Financial LLC raised its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 42.1% during the fourth quarter. LPL Financial LLC now owns 1,699,802 shares of the company's stock worth $260,104,000 after purchasing an additional 503,963 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 47.3% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,527,000 shares of the company's stock worth $233,662,000 after purchasing an additional 490,000 shares during the last quarter. Finally, UBS Group AG lifted its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 30.8% during the fourth quarter. UBS Group AG now owns 1,267,833 shares of the company's stock valued at $194,004,000 after purchasing an additional 298,762 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.

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