First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Reaches New 12-Month High – Still a Buy?

Shares of First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.09 and last traded at $50.0680, with a volume of 13878 shares. The stock had previously closed at $50.52.

First Trust NASDAQ Clean Edge Green Energy Index Fund Price Performance

The business has a fifty day simple moving average of $47.75 and a 200 day simple moving average of $43.56. The firm has a market cap of $604.38 million, a price-to-earnings ratio of 23.20 and a beta of 1.53.

First Trust NASDAQ Clean Edge Green Energy Index Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were paid a $0.0442 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.18 annualized dividend and a yield of 0.3%. This is an increase from First Trust NASDAQ Clean Edge Green Energy Index Fund’s previous quarterly dividend of $0.03.

Institutional Investors Weigh In On First Trust NASDAQ Clean Edge Green Energy Index Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 14,156.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,843,100 shares of the company’s stock worth $126,774,000 after buying an additional 2,823,157 shares in the last quarter. UBS Group AG lifted its stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 137.0% in the fourth quarter. UBS Group AG now owns 270,109 shares of the company’s stock worth $12,045,000 after buying an additional 156,142 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in First Trust NASDAQ Clean Edge Green Energy Index Fund during the fourth quarter worth about $4,046,000. CIBC Bancorp USA Inc. purchased a new stake in First Trust NASDAQ Clean Edge Green Energy Index Fund during the 3rd quarter valued at about $3,778,000. Finally, Truist Financial Corp purchased a new stake in First Trust NASDAQ Clean Edge Green Energy Index Fund during the 4th quarter valued at about $2,458,000.

About First Trust NASDAQ Clean Edge Green Energy Index Fund

First Trust NASDAQ Clean Edge Green Energy Index Fund (the Fund), formerly First Trust NASDAQ Clean Edge U.S. Liquid Series Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the NASDAQ Clean Edge Green Energy Index (the Index) (formerly NASDAQ Clean Edge U.S. Liquid Series Index). The Index is an equity index designed to track the performance of clean energy companies that are publicly traded in the United States, and includes companies engaged in the manufacturing, development, distribution and installation of clean-energy technologies, including, but not limited to, solar photovoltaics, biofuels and advanced batteries.