First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Reaches New 12-Month High – Time to Buy?

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $168.18 and last traded at $168.2440, with a volume of 207403 shares trading hands. The stock had previously closed at $166.20.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Trading Up 0.5%

The firm has a market cap of $6.35 billion, a PE ratio of 23.47 and a beta of 1.25. The firm has a 50 day moving average price of $155.86 and a 200-day moving average price of $151.16.

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

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

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

Several hedge funds and other institutional investors have recently made changes to their positions in GRID. Harel Insurance Investments & Financial Services Ltd. increased its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 47.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,527,000 shares of the company’s stock valued at $233,662,000 after purchasing an additional 490,000 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 21.3% in the 3rd quarter. Bank of America Corp DE now owns 1,447,811 shares of the company’s stock valued at $218,735,000 after buying an additional 254,139 shares in the last quarter. UBS Group AG grew its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 30.8% in the 4th quarter. UBS Group AG now owns 1,267,833 shares of the company’s stock valued at $194,004,000 after buying an additional 298,762 shares during the last quarter. Raymond James Financial Inc. lifted its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 48.8% in the third quarter. Raymond James Financial Inc. now owns 488,797 shares of the company’s stock valued at $73,847,000 after acquiring an additional 160,351 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 43.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 449,880 shares of the company’s stock valued at $67,950,000 after purchasing an additional 135,821 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.