Short Interest in First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Decreases By 83.3%

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 15,773 shares, a decrease of 83.3% from the June 30th total of 94,495 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 71,099 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of First Trust Multi-Asset Diversified Income Index Fund

Several hedge funds and other institutional investors have recently modified their holdings of MDIV. Royal Bank of Canada raised its holdings in First Trust Multi-Asset Diversified Income Index Fund by 4.3% in the 1st quarter. Royal Bank of Canada now owns 330,822 shares of the company’s stock valued at $5,410,000 after acquiring an additional 13,600 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 17.8% during the second quarter. Baird Financial Group Inc. now owns 14,134 shares of the company’s stock worth $223,000 after acquiring an additional 2,134 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 147.0% during the second quarter. Ameriprise Financial Inc. now owns 1,538,244 shares of the company’s stock worth $24,348,000 after acquiring an additional 915,595 shares during the period. Bank of America Corp DE grew its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 3.9% in the third quarter. Bank of America Corp DE now owns 551,792 shares of the company’s stock valued at $8,851,000 after purchasing an additional 20,850 shares during the last quarter. Finally, Harvest Investment Services LLC grew its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 2.7% in the third quarter. Harvest Investment Services LLC now owns 110,026 shares of the company’s stock valued at $1,765,000 after purchasing an additional 2,901 shares during the last quarter.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

First Trust Multi-Asset Diversified Income Index Fund stock remained flat at $16.78 during midday trading on Monday. The company had a trading volume of 36,935 shares, compared to its average volume of 71,272. The firm has a 50 day moving average price of $16.63 and a 200-day moving average price of $16.47. The company has a market cap of $428.73 million, a price-to-earnings ratio of 14.11 and a beta of 0.54. First Trust Multi-Asset Diversified Income Index Fund has a fifty-two week low of $15.52 and a fifty-two week high of $17.00.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 21st will be given a $0.0684 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, July 21st.

First Trust Multi-Asset Diversified Income Index Fund Company Profile

The Multi-Asset Diversified Income Index Fund (MDIV) is an exchange-traded fund that mostly invests in target outcome asset allocation. The fund tracks an index of equal-weighted US-listed securities, comprised of dividend-paying equities, REITs, preferred securities, MLPs, and a high-yield bond ETF. MDIV was launched on Aug 14, 2012 and is managed by First Trust.