A New Smart Grid ETF (GRID)

First Trust Advisors launched its First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund today under the ticker "GRID" on the Nasdaq.

GRID, not surprisingly, is a play on smart grid power and infrastructure providers. GRID will track companies that are primarily engaged and involved in electric grid, electric meters and devices, networks, energy storage and management, and enabling software used by the smart grid infrastructure sector.

Companies in the index GRID tracks include Baldor Electric (NYSE: BEZ), AVX Corp. (NYSE: AVX), Broadwind Energy (Nasdaq: BWEN) and China Bak Battery (NYSE: CBAK).