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

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 95,710 shares, a growth of 107.4% from the February 26th total of 46,147 shares. Based on an average daily volume of 57,805 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.4% of the company’s stock are sold short.

First Trust Multi-Asset Diversified Income Index Fund Price Performance

Shares of MDIV stock opened at $16.05 on Friday. The firm has a market cap of $400.45 million, a P/E ratio of 14.11 and a beta of 0.62. First Trust Multi-Asset Diversified Income Index Fund has a fifty-two week low of $14.74 and a fifty-two week high of $16.81. The stock’s 50-day moving average is $16.40 and its two-hundred day moving average is $16.04.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th will be paid a $0.134 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.0%. This is an increase from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.08. The ex-dividend date is Thursday, March 26th.

Institutional Investors Weigh In On First Trust Multi-Asset Diversified Income Index Fund

A number of large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its position in First Trust Multi-Asset Diversified Income Index Fund by 147.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,538,244 shares of the company’s stock valued at $24,348,000 after purchasing an additional 915,595 shares during the last quarter. Elevation Capital Advisory LLC bought a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the fourth quarter worth $2,745,000. Total Clarity Wealth Management Inc. increased its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 92.7% in the third quarter. Total Clarity Wealth Management Inc. now owns 109,460 shares of the company’s stock valued at $1,756,000 after buying an additional 52,660 shares in the last quarter. Royal Bank of Canada increased its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 11.5% in the fourth quarter. Royal Bank of Canada now owns 409,695 shares of the company’s stock valued at $6,441,000 after buying an additional 42,304 shares in the last quarter. Finally, TMB Capital Partners LLC bought a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the fourth quarter valued at about $657,000.

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.