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 significant decrease in short interest in September. As of September 30th, there was short interest totaling 3,376 shares, a decrease of 80.9% from the September 15th total of 17,653 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 62,980 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Flaharty Asset Management LLC bought a new stake in First Trust Multi-Asset Diversified Income Index Fund during the second quarter worth about $192,000. Western Wealth Management LLC bought a new position in First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter valued at about $49,000. Bank of America Corp DE increased its holdings in First Trust Multi-Asset Diversified Income Index Fund by 1.2% in the 1st quarter. Bank of America Corp DE now owns 564,283 shares of the company’s stock valued at $9,124,000 after buying an additional 6,656 shares during the period. Royal Bank of Canada increased its holdings in First Trust Multi-Asset Diversified Income Index Fund by 2.4% in the 1st quarter. Royal Bank of Canada now owns 419,475 shares of the company’s stock valued at $6,783,000 after buying an additional 9,780 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter valued at approximately $174,000.

First Trust Multi-Asset Diversified Income Index Fund Trading Up 0.6%

NASDAQ MDIV traded up $0.10 during midday trading on Monday, hitting $15.95. The company had a trading volume of 48,793 shares, compared to its average volume of 67,742. The company has a market capitalization of $410.71 million, a PE ratio of 14.11 and a beta of 0.55. The firm has a 50-day moving average price of $16.49 and a 200-day moving average price of $16.54. First Trust Multi-Asset Diversified Income Index Fund has a twelve month low of $15.52 and a twelve month high of $17.02.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.0960 per share. This is a decrease from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.1150. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $1.15 annualized dividend and a dividend yield of 7.2%.

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.