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

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 15,531 shares, a decline of 37.8% from the July 30th total of 24,982 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 65,418 shares, the days-to-cover ratio is presently 0.2 days.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

First Trust Multi-Asset Diversified Income Index Fund stock traded up $0.06 during midday trading on Wednesday, hitting $16.75. 11,127 shares of the company were exchanged, compared to its average volume of 68,777. First Trust Multi-Asset Diversified Income Index Fund has a fifty-two week low of $15.52 and a fifty-two week high of $17.02. The business has a fifty day simple moving average of $16.75 and a two-hundred day simple moving average of $16.59. The firm has a market capitalization of $427.96 million, a PE ratio of 14.11 and a beta of 0.54.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were paid a dividend of $0.115 per share. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend was Friday, August 21st. This is a positive change from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.07.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank lifted its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 5.6% in the fourth quarter. Comerica Bank now owns 12,436 shares of the company’s stock valued at $195,000 after acquiring an additional 654 shares in the last quarter. Advisory Services Network LLC raised its stake in First Trust Multi-Asset Diversified Income Index Fund by 5.7% in the 3rd quarter. Advisory Services Network LLC now owns 12,293 shares of the company’s stock valued at $197,000 after purchasing an additional 660 shares during the last quarter. Tcfg Wealth Management LLC lifted its holdings in First Trust Multi-Asset Diversified Income Index Fund by 1.3% in the 1st quarter. Tcfg Wealth Management LLC now owns 58,034 shares of the company’s stock valued at $938,000 after purchasing an additional 723 shares in the last quarter. Endowment Wealth Management Inc. lifted its holdings in First Trust Multi-Asset Diversified Income Index Fund by 3.2% in the 4th quarter. Endowment Wealth Management Inc. now owns 49,868 shares of the company’s stock valued at $784,000 after purchasing an additional 1,549 shares in the last quarter. Finally, Freedom Financial Partners LLC boosted its stake in First Trust Multi-Asset Diversified Income Index Fund by 5.1% during the 1st quarter. Freedom Financial Partners LLC now owns 37,499 shares of the company’s stock worth $606,000 after purchasing an additional 1,833 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.