Short Interest in First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Increases By 207.3%

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 98,128 shares, a growth of 207.3% from the May 31st total of 31,928 shares. Based on an average trading volume of 87,430 shares, the short-interest ratio is currently 1.1 days. Approximately 0.4% of the shares of the stock are short sold.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

NASDAQ:MDIV traded up $0.11 during trading hours on Friday, reaching $16.54. The company’s stock had a trading volume of 41,352 shares, compared to its average volume of 72,462. The firm has a 50-day simple moving average of $16.57 and a 200-day simple moving average of $16.33. First Trust Multi-Asset Diversified Income Index Fund has a 1 year low of $15.52 and a 1 year high of $16.81. The firm has a market capitalization of $410.19 million, a price-to-earnings ratio of 14.11 and a beta of 0.54.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 25th will be given a dividend of $0.1588 per share. This represents a c) annualized dividend and a yield of 11.5%. The ex-dividend date is Thursday, June 25th. This is a positive change from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.13.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Comerica Bank raised its position in First Trust Multi-Asset Diversified Income Index Fund by 5.6% during the 4th quarter. Comerica Bank now owns 12,436 shares of the company’s stock valued at $195,000 after purchasing an additional 654 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 5.7% during the third quarter. Advisory Services Network LLC now owns 12,293 shares of the company’s stock valued at $197,000 after buying an additional 660 shares during the period. Tcfg Wealth Management LLC increased its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 1.3% during the first quarter. Tcfg Wealth Management LLC now owns 58,034 shares of the company’s stock valued at $938,000 after buying an additional 723 shares during the period. Freedom Financial Partners LLC raised its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 2.6% during the fourth quarter. Freedom Financial Partners LLC now owns 35,666 shares of the company’s stock valued at $561,000 after acquiring an additional 905 shares in the last quarter. Finally, Endowment Wealth Management Inc. raised its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 3.2% during the fourth quarter. Endowment Wealth Management Inc. now owns 49,868 shares of the company’s stock valued at $784,000 after acquiring an additional 1,549 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.