First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Stock Short Interest Drops 41.6%

by · The Markets Daily

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID – Get Free Report) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 232,863 shares, a drop of 41.6% from the August 31st total of 398,512 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 543,627 shares, the days-to-cover ratio is currently 0.4 days.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Trading Down 0.7%

GRID stock traded down $1.16 during trading on Wednesday, hitting $177.11. The company had a trading volume of 335,405 shares, compared to its average volume of 658,486. The company has a fifty day moving average price of $180.13 and a two-hundred day moving average price of $182.23. First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund has a fifty-two week low of $144.62 and a fifty-two week high of $199.99. The company has a market cap of $11.85 billion, a P/E ratio of 23.47 and a beta of 1.26.

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

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.3534 per share. The ex-dividend date of this dividend is Thursday, September 24th. This is a drop from First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund’s previous quarterly dividend of $0.7555. This represents a $1.41 dividend on an annualized basis and a dividend yield of 0.8%.

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

Several large investors have recently made changes to their positions in GRID. Bank of America Corp DE increased its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 19.1% during the 1st quarter. Bank of America Corp DE now owns 2,121,584 shares of the company’s stock worth $347,049,000 after purchasing an additional 340,826 shares in the last quarter. LPL Financial LLC grew its stake 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 worth $260,104,000 after buying an additional 503,963 shares during the last quarter. Cetera Investment Advisers grew its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 160.5% during the first quarter. Cetera Investment Advisers now owns 568,057 shares of the company’s stock worth $92,923,000 after buying an additional 349,964 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 11.9% during the second quarter. Envestnet Asset Management Inc. now owns 430,096 shares of the company’s stock worth $82,471,000 after buying an additional 45,609 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 62.1% during the first quarter. Royal Bank of Canada now owns 441,118 shares of the company’s stock worth $72,158,000 after buying an additional 168,929 shares in the last quarter.

About First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

(Get Free Report)

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.

Further Reading