First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Sees Significant Growth in Short Interest

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 98,128 shares, a growth of 207.3% from the May 31st total of 31,928 shares. Based on an average trading volume of 87,430 shares, the short-interest ratio is currently 1.1 days. Approximately 0.4% of the shares of the company are short sold.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC bought a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the first quarter worth $49,000. D.A. Davidson & CO. purchased a new position in First Trust Multi-Asset Diversified Income Index Fund during the fourth quarter worth about $169,000. PFG Investments LLC bought a new position in First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter worth about $174,000. Sanctuary Advisors LLC purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter valued at about $174,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the 4th quarter valued at about $193,000.

First Trust Multi-Asset Diversified Income Index Fund Trading Up 0.2%

Shares of NASDAQ MDIV traded up $0.04 during mid-day trading on Monday, hitting $16.58. The company had a trading volume of 75,552 shares, compared to its average volume of 72,487. First Trust Multi-Asset Diversified Income Index Fund has a 1 year low of $15.52 and a 1 year high of $16.81. The company has a market capitalization of $411.18 million, a price-to-earnings ratio of 14.11 and a beta of 0.54. The stock’s 50-day moving average price is $16.57 and its 200-day moving average price is $16.34.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th will be issued a dividend of $0.1588 per share. This represents a c) dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend is Thursday, June 25th. This is a boost from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.13.

About First Trust Multi-Asset Diversified Income Index Fund

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.