Short Interest in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Grows By 101.8%

Key Points

• Short interest more than doubled to 540,556 shares as of August 14, up 101.8% from July 30. However, short positions represent just 0.8% of shares outstanding, with a 0.7-day days-to-cover ratio.
• GRID shares opened at $179.19, down 1.4%, with a market capitalization of $11.58 billion and a 52-week trading range of $139.18 to $199.99.
• The fund increased its quarterly dividend to $0.7555 per share, equivalent to an annualized $3.02 payout and a 1.7% yield; several institutional investors also recently initiated or expanded positions.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 540,556 shares, an increase of 101.8% from the July 30th total of 267,932 shares. Currently, 0.8% of the company's stock are short sold. Based on an average daily volume of 752,877 shares, the days-to-cover ratio is presently 0.7 days.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 672.7% in the third quarter. CIBC Private Wealth Group LLC now owns 170 shares of the company's stock valued at $26,000 after acquiring an additional 148 shares in the last quarter. Nalls Sherbakoff Group LLC purchased a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 4th quarter worth approximately $31,000. Merkkuri Wealth Advisors LLC purchased a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the first quarter valued at approximately $34,000. Triumph Capital Management acquired a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the third quarter valued at approximately $40,000. Finally, Park Square Financial Group LLC acquired a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 4th quarter worth $48,000.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Stock Down 1.4%

Shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund stock opened at $179.19 on Friday. The firm has a market capitalization of $11.58 billion, a P/E ratio of 23.47 and a beta of 1.26. First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund has a 52 week low of $139.18 and a 52 week high of $199.99. The firm's 50 day moving average is $183.20 and its two-hundred day moving average is $181.42.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a $0.7555 dividend. This represents a $3.02 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Thursday, June 25th. This is a positive change from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund's previous quarterly dividend of $0.10.

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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