Significant Increase in Short Interest for First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID)

The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (NASDAQ:GRID) has experienced a notable rise in short interest this February. By the end of February 28th, total short interest reached 162,800 shares, marking an astonishing increase of 399.4% compared to the February 13th total of 32,600 shares. Currently, about 0.9% of the Fund's shares are sold short. Given the average trading volume of 181,100 shares, the days-to-cover ratio stands at 0.9 days.

Recent Stock Performance

During midday trading on Wednesday, the shares of NASDAQ GRID increased by 1.1%, reaching a price of $115.99. A total of 132,353 shares were traded, which is in line with its average volume of 130,470 shares. The Fund has a market capitalization of $2.08 billion, a price-to-earnings ratio of 22.84, and a beta of 1.25. Over the past year, the stock hit a low of $107.51 and a high of $129.02. The 50-day simple moving average is $120.58, while the 200-day simple moving average is $122.68.

Dividend Announcement

The First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund recently announced a dividend payment, which was issued on December 31st. Shareholders who were registered by December 13th received a dividend of $0.2731. The ex-dividend date for this payment was also December 13th.

Institutional Investors' Activity

Several large investors have adjusted their holdings in the First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund recently. For instance, Janney Montgomery Scott LLC raised its position by 5.9% in the third quarter, bringing its total to 14,361 shares valued at approximately $1,827,000 after acquiring an additional 799 shares. Mesirow Financial Investment Management Inc. also entered a new stake valued at approximately $663,000. Furthermore, Sigma Planning Corp significantly boosted its stake in the Fund by 352.7%, owning now 17,927 shares worth $2,281,000 following the acquisition of an additional 13,967 shares. Other investors, such as Nations Financial Group Inc. IA ADV, have also increased their positions within the same timeframe.

Company Overview

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund aims to achieve investment results that closely correspond to the performance of an equity index known as the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. The Fund's investment strategy focuses on allocating at least 90% of its net assets in common stocks that constitute the Index or in depositary receipts representing these securities.

Conclusion

The rising short interest, recent stock performance, and increased institutional investment in the First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund provide important insight into its market activity. Investors should monitor these developments closely as they can influence future trading decisions.

investment, stocks, fund