First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Hits New 52-Week High – Still a Buy?

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) shares hit a new 52-week high on Thursday . The company traded as high as $198.00 and last traded at $197.73, with a volume of 1381743 shares trading hands. The stock had previously closed at $193.49.

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

The business’s 50 day moving average is $174.22 and its two-hundred day moving average is $163.97. The firm has a market capitalization of $10.34 billion, a PE ratio of 23.47 and a beta of 1.28.

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

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were given a dividend of $0.1004 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, March 26th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GRID. Harel Insurance Investments & Financial Services Ltd. bought a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the third quarter valued at approximately $156,670,000. Morgan Stanley grew its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 30.7% during the fourth quarter. Morgan Stanley now owns 2,948,976 shares of the company’s stock valued at $451,252,000 after acquiring an additional 691,924 shares during the last quarter. LPL Financial LLC grew its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 42.1% during the fourth quarter. LPL Financial LLC now owns 1,699,802 shares of the company’s stock valued at $260,104,000 after acquiring an additional 503,963 shares during the last quarter. Wells Fargo & Company MN grew its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 43.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,023,888 shares of the company’s stock valued at $156,675,000 after acquiring an additional 307,664 shares during the last quarter. Finally, UBS Group AG grew its position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 30.8% during the fourth quarter. UBS Group AG now owns 1,267,833 shares of the company’s stock valued at $194,004,000 after acquiring an additional 298,762 shares during the last quarter.

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.