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) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 7,882 shares, a growth of 133.5% from the September 30th total of 3,376 shares. Based on an average daily volume of 56,100 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

First Trust Multi-Asset Diversified Income Index Fund Price Performance

First Trust Multi-Asset Diversified Income Index Fund stock traded down $0.03 during mid-day trading on Friday, reaching $16.20. The company had a trading volume of 41,475 shares, compared to its average volume of 66,619. The company has a market capitalization of $417.28 million, a P/E ratio of 14.11 and a beta of 0.55. The stock’s 50-day simple moving average is $16.29 and its 200-day simple moving average is $16.47. First Trust Multi-Asset Diversified Income Index Fund has a 1 year low of $15.52 and a 1 year high of $17.02.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 21st will be given a $0.0772 dividend. This is a drop from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.0960. This represents a $0.93 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, October 21st.

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

A number of hedge funds have recently made changes to their positions in MDIV. Integrity Alliance LLC. purchased a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the 3rd quarter valued at $394,000. D.A. Davidson & CO. acquired a new stake in First Trust Multi-Asset Diversified Income Index Fund in the 3rd quarter valued at $171,000. Sigma Planning Corp purchased a new position in First Trust Multi-Asset Diversified Income Index Fund in the third quarter valued at about $681,000. Columbia Advisory Partners LLC lifted its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 224.6% during the third quarter. Columbia Advisory Partners LLC now owns 35,329 shares of the company’s stock worth $559,000 after purchasing an additional 24,445 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 10.1% during the third quarter. Farther Finance Advisors LLC now owns 16,781 shares of the company’s stock worth $266,000 after purchasing an additional 1,533 shares in the last quarter.

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.