Short Interest in First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Grows By 58.4%

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 24,982 shares, a growth of 58.4% from the July 15th total of 15,773 shares. Based on an average trading volume of 47,501 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the company’s shares are sold short.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

Shares of First Trust Multi-Asset Diversified Income Index Fund stock opened at $16.92 on Wednesday. The firm has a fifty day moving average of $16.70 and a two-hundred day moving average of $16.56. The stock has a market capitalization of $432.31 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 52 week low of $15.52 and a 52 week high of $17.00.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 21st were paid a dividend of $0.0684 per share. The ex-dividend date of this dividend was Tuesday, July 21st. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%.

Hedge Funds Weigh In On First Trust Multi-Asset Diversified Income Index Fund

Several hedge funds have recently added to or reduced their stakes in MDIV. Western Wealth Management LLC acquired a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the first quarter worth about $49,000. D.A. Davidson & CO. bought a new stake in First Trust Multi-Asset Diversified Income Index Fund during the 4th quarter worth approximately $169,000. PFG Investments LLC acquired a new stake in First Trust Multi-Asset Diversified Income Index Fund during the 1st quarter worth approximately $174,000. Sanctuary Advisors LLC acquired a new stake in First Trust Multi-Asset Diversified Income Index Fund during the 1st quarter worth approximately $174,000. Finally, Flaharty Asset Management LLC bought a new position in First Trust Multi-Asset Diversified Income Index Fund in the second quarter valued at approximately $192,000.

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.