First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Trading Up 0.4% - Time to Buy?

Key Points

• The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) saw a stock price increase of 0.4%, reaching $140.94 during mid-day trading on Wednesday.
• The fund recently increased its quarterly dividend to $0.8347 per share, significantly up from its previous dividend of $0.14, resulting in a yield of 2.4%.
• Institutional interest has grown, with several hedge funds acquiring new positions in the fund, including investments valued at $26,000 and $49,000 across different quarters.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - )'s stock price was up 0.4% during mid-day trading on Wednesday . The stock traded as high as $141.45 and last traded at $140.94. Approximately 181,639 shares changed hands during trading, an increase of 5% from the average daily volume of 172,197 shares. The stock had previously closed at $140.43.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Stock Up 0.4%

The company has a fifty day simple moving average of $141.85 and a 200-day simple moving average of $128.47. The firm has a market cap of $2.91 billion, a P/E ratio of 23.47 and a beta of 1.25.

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

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were issued 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. This represents a $3.34 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 26th.

Institutional Trading of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

Hedge funds have recently bought and sold shares of the stock. Ameriflex Group Inc. bought a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. purchased a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the first quarter valued at about $33,000. Hilltop National Bank purchased a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the second quarter valued at about $36,000. Crewe Advisors LLC lifted its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 175.0% in the second quarter. Crewe Advisors LLC now owns 275 shares of the company's stock valued at $38,000 after acquiring an additional 175 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the first quarter valued at about $49,000.

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.

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