First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) Sees Unusually-High Trading Volume – Still a Buy?

Shares of First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN) saw unusually-high trading volume on Monday . Approximately 215,621 shares were traded during mid-day trading, an increase of 50% from the previous session’s volume of 143,443 shares.The stock last traded at $62.7320 and had previously closed at $61.39.

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

The stock has a market capitalization of $775.56 million, a P/E ratio of 23.20 and a beta of 1.62. The firm has a 50-day moving average of $56.83 and a 200 day moving average of $50.80.

First Trust NASDAQ Clean Edge Green Energy Index Fund Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 14,156.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,843,100 shares of the company’s stock valued at $126,774,000 after acquiring an additional 2,823,157 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of First Trust NASDAQ Clean Edge Green Energy Index Fund by 41.5% during the fourth quarter. Wells Fargo & Company MN now owns 292,986 shares of the company’s stock valued at $13,065,000 after acquiring an additional 85,902 shares during the period. UBS Group AG boosted its position in 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 valued at $12,045,000 after buying an additional 156,142 shares in the last quarter. LPL Financial LLC boosted its position in First Trust NASDAQ Clean Edge Green Energy Index Fund by 27.6% in the fourth quarter. LPL Financial LLC now owns 250,739 shares of the company’s stock valued at $11,181,000 after buying an additional 54,286 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in First Trust NASDAQ Clean Edge Green Energy Index Fund by 55.7% in the fourth quarter. Royal Bank of Canada now owns 179,386 shares of the company’s stock valued at $8,000,000 after buying an additional 64,165 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.