Tuesday, November 17, 2009

First Trust Rolls Out Electric-Grid-Linked ETF (GRID)

UPDATE: "Reviewing the New Smart Grid ETF (GRID)"
From Index Universe:
...The First Trust Nasdaq Clean Edge Smart Grid Infrastructure Index Fund (Nasdaq: GRID) will track the Nasdaq OMX Clean Edge Smart Grid Infrastructure Index, which is a modified market capitalization index, comprises companies involved in electric grid, meters, devices and network, energy storage and management, and sector-related software.
Started in September, the index holds some 30 names.

Index Components As Of Nov. 17
NGK Insulators 53330
Advanced Energy Industries AEIS
American Superconductor AMSC
General Cable BGC
Cooper Industries Plc CBE
Comverge Inc COMV
Digi Intl Inc DGII
Echelon Corp ELON
EnerNoc Inc ENOC
ESCO Technologies Inc ESE
General Electric Co GE
ITC Holdings Corp ITC
Intellon Corp ITLN
Itron Inc ITRI
Jinpan Intl Ltd JST
Mastec Inc MTZ
National Grid PLC NG.
Pike Electric Corp PIKE
Power-One Inc PWER
Quanta Services Inc PWR
Ruggedcom Inc. RCM
SMA Solar Technology AG S92
Satcon Technology Corp SATC
Schneider Electric SA SU
Siemens AG SIE
Telvent GIT SA (US Listing) TLVT
Valmont Industries Inc VMI

"With a growing demand for electricity and the increasingly inefficient infrastructure, the current power grid is unable to keep up with the twenty-first century technology," Ryan Issakainen, vice president, exchange-traded fund strategist for First Trust Portfolios, said in a release....MORE