Wall Street Gets It: New Smart Grid ETF Launched
By SGN Staff
Nov 17, 2009 - 1:54:19 PM

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The NASDAQ OMX Group, Inc., Clean Edge, Inc. and First Trust Advisors L.P. announced the launch of a new exchange traded fund (ETF) for the Smart Grid and electric infrastructure sector.

 

The fund—the First Trust NASDAQ® Clean Edge® Smart Grid Infrastructure Index Fund—is based on the NASDAQ® Clean Edge® Smart Grid Infrastructure Index^SM (NASDAQ:QGRD), which is considered a benchmark for the Smart Grid and electric infrastructure sector. The fund is managed by First Trust and is listed on NASDAQ.

 

QGRD is a modified market-capitalization index and includes companies primarily active in electric grid, meters, devices and networks, energy and storage management and software used by the Smart Grid and electric infrastructure work.

 

"First Trust has filled the need for an investment product based on an index that has brought sharper focus to an industry that is transforming our nation's energy grid," NASDAQ OMX Executive Vice President John Jacobs said.

 

Clean Edge co-founder and Managing Director Ron Pernick commented, "This is the first ETF to track a Smart Grid and electric infrastructure index. First Trust continues to demonstrate leadership and to build a strong presence in the clean-energy sector."

 

Companies included in the index are screened by Clean Edge.

   Clean Edge news release