First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Sees Large Volume Increase - Here's Why

Key Points

• Trading volume surged 194% to approximately 1.93 million shares, while GRID shares fell 4.3% to $163.15 from the prior close of $170.50.
• The fund’s quarterly dividend declined to $0.3534 per share from $0.7555, equating to $1.41 annualized and a 0.9% yield.
• Several institutional investors recently initiated or increased positions in GRID, which tracks the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index and invests at least 90% of assets in its component securities.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) shares saw unusually-high trading volume on Thursday. Approximately 1,932,320 shares were traded during trading, an increase of 194% from the previous session's volume of 656,653 shares. The stock last traded at $163.1540 and had previously closed at $170.50.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Trading Down 4.3%

The firm's 50-day moving average is $178.73 and its 200-day moving average is $183.50. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 23.47 and a beta of 1.26.

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

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were issued a dividend of $0.3534 per share. This represents a $1.41 annualized dividend and a yield of 0.9%. This is a drop from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund's previous quarterly dividend of $0.7555. The ex-dividend date of this dividend was Thursday, September 24th.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Merkkuri Wealth Advisors LLC purchased a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the first quarter worth $34,000. Root Financial Partners LLC purchased a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the third quarter valued at about $36,000. Arlington Trust Co LLC bought a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the second quarter worth about $48,000. Y.D. More Investments Ltd increased its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 152.5% during the 1st quarter. Y.D. More Investments Ltd now owns 303 shares of the company's stock valued at $50,000 after purchasing an additional 183 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC boosted its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 146.6% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 323 shares of the company's stock valued at $53,000 after purchasing an additional 192 shares in the last quarter.

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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