First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Hits New 12-Month High – Should You Buy?

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $67.02 and last traded at $66.26, with a volume of 183062 shares traded. The stock had previously closed at $66.45.

First Trust NASDAQ Clean Edge Green Energy Index Fund Stock Down 0.3%

The firm has a market cap of $834.88 million, a price-to-earnings ratio of 23.20 and a beta of 1.60. The company has a 50-day moving average price of $54.17 and a 200 day moving average price of $49.75.

First Trust NASDAQ Clean Edge Green Energy Index Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a dividend of $0.0068 per share. This represents a $0.03 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Thursday, March 26th.

Institutional Trading of First Trust NASDAQ Clean Edge Green Energy Index Fund

Several hedge funds and other institutional investors have recently modified their holdings of QCLN. Private Trust Co. NA purchased a new stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund during the fourth quarter worth $29,000. Ameriflex Group Inc. purchased a new stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund during the third quarter worth $31,000. Parallel Advisors LLC raised its holdings in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 31.4% during the first quarter. Parallel Advisors LLC now owns 795 shares of the company’s stock worth $37,000 after acquiring an additional 190 shares in the last quarter. Elevated Capital Advisors LLC purchased a new stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund during the fourth quarter worth $75,000. Finally, Comerica Bank raised its holdings in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 18.7% during the first quarter. Comerica Bank now owns 3,367 shares of the company’s stock worth $96,000 after acquiring an additional 530 shares in the last quarter.

About First Trust NASDAQ Clean Edge Green Energy Index Fund

First Trust NASDAQ Clean Edge Green Energy Index Fund (the Fund), formerly First Trust NASDAQ Clean Edge U.S. Liquid Series Index Fund, seeks investment results that correspond generally to the price and yield of an equity index called the NASDAQ Clean Edge Green Energy Index (the Index) (formerly NASDAQ Clean Edge U.S. Liquid Series Index). The Index is an equity index designed to track the performance of clean energy companies that are publicly traded in the United States, and includes companies engaged in the manufacturing, development, distribution and installation of clean-energy technologies, including, but not limited to, solar photovoltaics, biofuels and advanced batteries.