First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Sets New 1-Year High – Still a Buy?

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $164.41 and last traded at $164.24, with a volume of 616746 shares traded. The stock had previously closed at $160.96.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Trading Up 1.1%

The company has a market cap of $6.18 billion, a price-to-earnings ratio of 23.47 and a beta of 1.25. The stock has a 50 day moving average price of $155.13 and a two-hundred day moving average price of $150.65.

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

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were paid a $0.338 dividend. This is a boost from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, December 12th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 0.8%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased 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 purchasing an additional 148 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 91.7% in the 3rd quarter. Clearstead Advisors LLC now owns 207 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the period. Hilltop National Bank bought a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the 2nd quarter valued at $36,000. JNBA Financial Advisors raised its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 1,194.7% during the 3rd quarter. JNBA Financial Advisors now owns 246 shares of the company’s stock worth $37,000 after buying an additional 227 shares during the period. Finally, Crewe Advisors LLC raised its stake in 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 worth $38,000 after buying an additional 175 shares during the period.

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.