First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) Stock Short Interest Climbs 78.2%

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

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

Shares of GRID stock traded up $3.72 during midday trading on Tuesday, hitting $168.00. The company had a trading volume of 74,936 shares, compared to its average volume of 650,696. The company’s 50 day simple moving average is $175.76 and its 200 day simple moving average is $178.43. First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund has a 52-week low of $144.62 and a 52-week high of $199.99. The stock has a market cap of $11.45 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 Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were issued a dividend of $0.3534 per share. 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, September 24th.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of GRID. United Advisor Group LLC increased its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 11.5% in the third quarter. United Advisor Group LLC now owns 9,232 shares of the company’s stock worth $1,635,000 after acquiring an additional 949 shares in the last quarter. Asset One Wealth Management LLC grew its stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 6.4% in the 3rd quarter. Asset One Wealth Management LLC now owns 5,417 shares of the company’s stock valued at $959,000 after buying an additional 325 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 4.0% during the third quarter. International Assets Investment Management LLC now owns 32,239 shares of the company’s stock valued at $5,764,000 after buying an additional 1,237 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund during the third quarter worth $2,476,000. Finally, Principle Wealth Partners LLC boosted its stake in shares of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund by 3.1% in the 3rd quarter. Principle Wealth Partners LLC now owns 2,533 shares of the company’s stock valued at $449,000 after purchasing an additional 75 shares in the last quarter.

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund Company Profile

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.