First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Shares Down 0.1% – Here’s What Happened

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV)’s stock price fell 0.1% on Tuesday . The stock traded as low as $16.57 and last traded at $16.66. 35,727 shares traded hands during trading, a decline of 52% from the average session volume of 74,308 shares. The stock had previously closed at $16.67.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

The stock has a market cap of $412.67 million, a price-to-earnings ratio of 14.11 and a beta of 0.55. The company has a 50-day simple moving average of $16.44 and a two-hundred day simple moving average of $16.19.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.1321 per share. This is a positive change from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.05. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 9.5%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 147.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,538,244 shares of the company’s stock worth $24,348,000 after purchasing an additional 915,595 shares during the last quarter. Stifel Financial Corp increased its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 3.1% during the 4th quarter. Stifel Financial Corp now owns 582,651 shares of the company’s stock worth $9,159,000 after purchasing an additional 17,582 shares during the last quarter. Bank of America Corp DE increased its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 1.2% during the 1st quarter. Bank of America Corp DE now owns 564,283 shares of the company’s stock worth $9,124,000 after purchasing an additional 6,656 shares during the last quarter. Royal Bank of Canada increased its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 2.4% during the 1st quarter. Royal Bank of Canada now owns 419,475 shares of the company’s stock worth $6,783,000 after purchasing an additional 9,780 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 8.1% during the 4th quarter. Harbour Investments Inc. now owns 418,547 shares of the company’s stock worth $6,580,000 after purchasing an additional 31,184 shares during the last quarter.

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.