First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Shares Up 1.5% - Here's Why

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - Get Free Report)'s share price shot up 1.5% on Friday . The company traded as high as $118.14 and last traded at $118.14. 59,464 shares changed hands during trading, a decline of 59% from the average session volume of 144,617 shares. The stock had previously closed at $116.44.

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

The company's 50 day simple moving average is $114.49 and its 200-day simple moving average is $120.18. The firm has a market capitalization of $2.07 billion, a PE ratio of 24.46 and a beta of 1.25.

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

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were given a $0.1394 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.47%.

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

Several large investors have recently added to or reduced their stakes in GRID. Ameriflex Group Inc. purchased a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the 4th quarter valued at about $26,000. US Bancorp DE increased its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 57.3% in the fourth quarter. US Bancorp DE now owns 236 shares of the company's stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the first quarter worth approximately $49,000. Geneos Wealth Management Inc. raised its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 119.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 438 shares of the company's stock valued at $52,000 after purchasing an additional 238 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the fourth quarter valued at approximately $63,000.

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.