First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Trading 1.6% Higher - Time to Buy?

Key Points

• GRID shares rose 1.6% to $181.08, trading near their 50-day moving average of $180.26 and 200-day moving average of $181.70. Trading volume was 56% below the average.
• The fund paid a quarterly dividend of $0.7555 per share, equivalent to an annualized $3.02 and a 1.7% yield, significantly higher than its previous $0.10 quarterly dividend.
• Several institutional investors increased their GRID holdings, while the ETF continues to target at least 90% of assets in stocks or depositary receipts tracking the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index.

Shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID - ) shot up 1.6% on Monday . The company traded as high as $181.42 and last traded at $181.08. 294,654 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 665,651 shares. The stock had previously closed at $178.25.

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

The stock's fifty day moving average is $180.26 and its 200 day moving average is $181.70. The stock has a market cap of $12.06 billion, a P/E ratio of 23.47 and a beta of 1.26.

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

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 25th were issued a dividend of $0.7555 per share. This represents a $3.02 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, June 25th. This is an increase from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund's previous quarterly dividend of $0.10.

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

Large investors have recently added to or reduced their stakes in the stock. Richmond Investment Services LLC increased its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 2.3% during the first quarter. Richmond Investment Services LLC now owns 3,502 shares of the company's stock valued at $573,000 after buying an additional 79 shares during the period. Sovran Advisors LLC grew its holdings in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 1.3% during the 1st quarter. Sovran Advisors LLC now owns 6,972 shares of the company's stock worth $1,140,000 after acquiring an additional 90 shares in the last quarter. Kraft Davis & Associates LLC increased its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 2.9% during the 2nd quarter. Kraft Davis & Associates LLC now owns 3,329 shares of the company's stock valued at $604,000 after purchasing an additional 94 shares during the period. Clearwater Capital Advisors LLC raised its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 3.9% in the 4th quarter. Clearwater Capital Advisors LLC now owns 2,670 shares of the company's stock valued at $409,000 after purchasing an additional 100 shares in the last quarter. Finally, CI Investments Inc. raised its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 3.4% in the 1st quarter. CI Investments Inc. now owns 3,077 shares of the company's stock valued at $503,000 after purchasing an additional 100 shares in the last quarter.

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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