First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Stock Price Down 0.1% – Here’s Why

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV)’s stock price fell 0.1% during trading on Tuesday . The stock traded as low as $16.57 and last traded at $16.66. 35,727 shares traded hands during trading, a decline of 52% from the average session volume of 74,308 shares. The stock had previously closed at $16.67.

First Trust Multi-Asset Diversified Income Index Fund Trading Down 0.1%

The company has a market capitalization of $413.17 million, a price-to-earnings ratio of 14.11 and a beta of 0.55. The firm’s 50 day moving average price is $16.43 and its two-hundred day moving average price is $16.17.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, April 21st were issued a dividend of $0.052 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, April 21st.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in First Trust Multi-Asset Diversified Income Index Fund by 4.3% during the first quarter. Royal Bank of Canada now owns 330,822 shares of the company’s stock worth $5,410,000 after acquiring an additional 13,600 shares in the last quarter. Baird Financial Group Inc. increased its holdings in First Trust Multi-Asset Diversified Income Index Fund by 17.8% during the second quarter. Baird Financial Group Inc. now owns 14,134 shares of the company’s stock worth $223,000 after buying an additional 2,134 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in First Trust Multi-Asset Diversified Income Index Fund by 147.0% during the second quarter. Ameriprise Financial Inc. now owns 1,538,244 shares of the company’s stock worth $24,348,000 after buying an additional 915,595 shares during the last quarter. Intrua Financial LLC increased its holdings in First Trust Multi-Asset Diversified Income Index Fund by 26.0% during the third quarter. Intrua Financial LLC now owns 32,117 shares of the company’s stock worth $515,000 after buying an additional 6,622 shares during the last quarter. Finally, Rockport Wealth LLC increased its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 3.7% in the third quarter. Rockport Wealth LLC now owns 242,979 shares of the company’s stock worth $3,897,000 after purchasing an additional 8,568 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.