First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Sees Large Growth in Short Interest

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 247,455 shares, an increase of 78.2% from the September 30th total of 138,902 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 556,731 shares, the days-to-cover ratio is presently 0.4 days.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Stock Down 0.1%

GRID traded down $0.23 during midday trading on Monday, reaching $164.28. 366,276 shares of the company’s stock were exchanged, compared to its average volume of 653,524. The business has a 50-day simple moving average of $176.09 and a two-hundred day simple moving average of $178.39. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 23.47 and a beta of 1.26. First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund has a one year low of $144.62 and a one year high of $199.99.

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

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were paid a $0.3534 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 0.9%. This is a drop from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund’s previous quarterly dividend of $0.7555. The ex-dividend date was Thursday, September 24th.

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

Institutional investors have recently modified their holdings of the stock. Pekin Hardy Strauss Inc. bought a new stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the third quarter worth approximately $2,476,000. Principle Wealth Partners LLC lifted its holdings in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 3.1% in the third quarter. Principle Wealth Partners LLC now owns 2,533 shares of the company’s stock valued at $449,000 after buying an additional 75 shares during the period. Kraematon Investment Advisors Inc. lifted its holdings in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 0.8% in the third quarter. Kraematon Investment Advisors Inc. now owns 14,436 shares of the company’s stock valued at $2,557,000 after buying an additional 113 shares during the period. Kestra Advisory Services LLC boosted its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 23.8% in the third quarter. Kestra Advisory Services LLC now owns 268,267 shares of the company’s stock valued at $47,513,000 after acquiring an additional 51,638 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund in the third quarter valued at approximately $65,457,000.

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.