First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Trading 1.5% Higher - What's Next?

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)'s stock price traded up 1.5% during mid-day trading on Tuesday . The company traded as high as $145.02 and last traded at $144.88. 141,547 shares were traded during mid-day 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 Trading Down 0.3%

The business has a 50 day simple moving average of $139.51 and a 200-day simple moving average of $126.54. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 23.47 and a beta of 1.25.

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

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a $0.8347 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 26th. This is a positive change from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund's previous quarterly dividend of $0.14.

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

Several hedge funds and other institutional investors have recently modified their holdings of GRID. Ameriflex Group Inc. purchased a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 4th quarter valued at about $26,000. Hilltop National Bank purchased a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 2nd quarter valued at about $36,000. Crewe Advisors LLC raised its holdings in shares of 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 valued at $38,000 after buying an additional 175 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 1st quarter valued at about $33,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 2nd quarter valued at about $55,000.

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.