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

Key Points

• GRID shares rose 1.5% to $170.50, although trading volume was 37% below its average; the price remains below its 50-day and 200-day moving averages of $178.73 and $183.50, respectively.
• The fund’s quarterly dividend fell to $0.3534 from $0.7555, equating to an annualized payout of $1.41 and a 0.8% dividend yield.
• Institutional interest increased, with Cetera Investment Advisers, Bank of America, and Royal Bank of Canada substantially expanding their holdings, while other firms initiated new positions.

Shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) shot up 1.5% on Wednesday. The stock traded as high as $170.89 and last traded at $170.50. Approximately 409,173 shares changed hands during trading, a decline of 37% from the average daily volume of 650,958 shares. The stock had previously closed at $167.91.

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

The stock's fifty day simple moving average is $178.73 and its two-hundred day simple moving average is $183.50. The company has a market capitalization of $11.54 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 declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a $0.3534 dividend. 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. This represents a $1.41 annualized dividend and a dividend yield of 0.8%.

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

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers increased its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 160.5% in the 1st quarter. Cetera Investment Advisers now owns 568,057 shares of the company's stock worth $92,923,000 after purchasing an additional 349,964 shares in the last quarter. Bank of America Corp DE raised its holdings in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 19.1% during the 1st quarter. Bank of America Corp DE now owns 2,121,584 shares of the company's stock worth $347,049,000 after buying an additional 340,826 shares during the period. Royal Bank of Canada raised its holdings in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 62.1% during the 1st quarter. Royal Bank of Canada now owns 441,118 shares of the company's stock worth $72,158,000 after buying an additional 168,929 shares during the period. Ayalon Insurance Comp Ltd. acquired a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the 3rd quarter worth about $28,534,000. Finally, McKinley Carter Wealth Services Inc. purchased a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the third quarter valued at about $14,945,000.

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.

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