First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Stock Price Up 1.5% - Should You Buy?

Key Points

• First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) shares increased by 1.5% during Tuesday's trading, reaching $144.88.
• The fund recently declared a quarterly dividend of $0.8347, significantly up from its previous dividend of $0.14, resulting in an annualized yield of 2.3%.
• Institutional investors have shown increased interest in the fund, with multiple firms, including Ameriflex Group Inc. and Hilltop National Bank, acquiring new stakes in recent quarters.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - Get Free Report) shares traded up 1.5% during trading on Tuesday . The company traded as high as $145.02 and last traded at $144.88. 141,547 shares changed hands during trading, a decline of 15% from the average session volume of 166,251 shares. The stock had previously closed at $142.72.

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

The stock has a market capitalization of $2.96 billion, a P/E ratio of 23.47 and a beta of 1.25. The stock has a 50 day moving average of $139.29 and a 200 day moving average of $126.32.

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

The business 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 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, June 26th. This is an increase from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund's previous quarterly dividend of $0.14.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GRID. Ameriflex Group Inc. acquired a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 4th quarter worth $26,000. Hazlett Burt & Watson Inc. acquired a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 1st quarter worth $33,000. Hilltop National Bank acquired a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 2nd quarter worth $36,000. Crewe Advisors LLC boosted its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 175.0% during the 2nd quarter. Crewe Advisors LLC now owns 275 shares of the company's stock worth $38,000 after acquiring an additional 175 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 1st quarter worth $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.