First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Hits New 12-Month High – Should You Buy?

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $129.39 and last traded at $129.31, with a volume of 96580 shares changing hands. The stock had previously closed at $128.91.

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

The business has a 50-day moving average of $116.32 and a 200-day moving average of $120.11. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 24.46 and a beta of 1.25.

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

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were issued a $0.1394 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Thursday, March 27th.

Hedge Funds Weigh In On First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

Hedge funds have recently modified their holdings of the business. Proficio Capital Partners LLC grew its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 8,655.1% during the 4th quarter. Proficio Capital Partners LLC now owns 7,194,291 shares of the company’s stock worth $858,567,000 after purchasing an additional 7,112,118 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the fourth quarter valued at about $32,213,000. Jane Street Group LLC boosted its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 940.3% during the first quarter. Jane Street Group LLC now owns 191,888 shares of the company’s stock worth $21,708,000 after buying an additional 173,442 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the fourth quarter worth about $20,039,000. Finally, LPL Financial LLC increased its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 30.5% in the 4th quarter. LPL Financial LLC now owns 673,232 shares of the company’s stock valued at $80,344,000 after acquiring an additional 157,331 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.