First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Hits New 52-Week High – Should You Buy?

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $52.08 and last traded at $51.41, with a volume of 25562 shares trading hands. The stock had previously closed at $50.54.

First Trust NASDAQ Clean Edge Green Energy Index Fund Trading Down 2.9%

The company has a market cap of $593.58 million, a PE ratio of 23.20 and a beta of 1.53. The firm’s fifty day moving average is $46.83 and its 200 day moving average is $42.71.

First Trust NASDAQ Clean Edge Green Energy Index Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were paid a $0.0442 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.18 dividend on an annualized basis and a yield of 0.4%. This is a boost from First Trust NASDAQ Clean Edge Green Energy Index Fund’s previous quarterly dividend of $0.03.

Hedge Funds Weigh In On First Trust NASDAQ Clean Edge Green Energy Index Fund

A number of hedge funds have recently made changes to their positions in QCLN. UBS Group AG boosted its stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 137.0% in the fourth quarter. UBS Group AG now owns 270,109 shares of the company’s stock worth $12,045,000 after acquiring an additional 156,142 shares during the last quarter. Elevated Capital Advisors LLC purchased a new position in First Trust NASDAQ Clean Edge Green Energy Index Fund in the 4th quarter valued at $75,000. Private Trust Co. NA purchased a new position in First Trust NASDAQ Clean Edge Green Energy Index Fund in the 4th quarter valued at $29,000. Farther Finance Advisors LLC boosted its stake in First Trust NASDAQ Clean Edge Green Energy Index Fund by 45.3% during the 4th quarter. Farther Finance Advisors LLC now owns 3,117 shares of the company’s stock worth $139,000 after purchasing an additional 972 shares during the last quarter. Finally, Natural Investments LLC purchased a new stake in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund during the fourth quarter worth $358,000.

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.