First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Shares Down 0.2% – Here’s Why

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV)’s share price traded down 0.2% during mid-day trading on Monday . The stock traded as low as $16.86 and last traded at $16.90. 34,632 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 69,993 shares. The stock had previously closed at $16.93.

First Trust Multi-Asset Diversified Income Index Fund Stock Up 0.1%

The stock has a market cap of $432.31 million, a PE ratio of 14.11 and a beta of 0.54. The stock’s fifty day moving average price is $16.70 and its 200 day moving average price is $16.56.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDIV. Ameriprise Financial Inc. lifted its holdings 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 valued at $24,348,000 after buying an additional 915,595 shares during the period. Stifel Financial Corp grew its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 3.1% in the fourth quarter. Stifel Financial Corp now owns 582,651 shares of the company’s stock worth $9,159,000 after acquiring an additional 17,582 shares during the period. Bank of America Corp DE increased its position in First Trust Multi-Asset Diversified Income Index Fund by 1.2% during the first quarter. Bank of America Corp DE now owns 564,283 shares of the company’s stock valued at $9,124,000 after acquiring an additional 6,656 shares during the last quarter. Royal Bank of Canada increased its position in First Trust Multi-Asset Diversified Income Index Fund by 2.4% during the first quarter. Royal Bank of Canada now owns 419,475 shares of the company’s stock valued at $6,783,000 after acquiring an additional 9,780 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in First Trust Multi-Asset Diversified Income Index Fund by 8.1% in the fourth quarter. Harbour Investments Inc. now owns 418,547 shares of the company’s stock valued at $6,580,000 after acquiring an additional 31,184 shares during the period.

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.