First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Short Interest Update

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 59,474 shares, a growth of 282.9% from the August 15th total of 15,531 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 49,488 shares, the days-to-cover ratio is currently 1.2 days.

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

Shares of MDIV opened at $16.60 on Monday. First Trust Multi-Asset Diversified Income Index Fund has a 1 year low of $15.52 and a 1 year high of $17.02. The stock has a market cap of $424.13 million, a P/E ratio of 14.11 and a beta of 0.54. The stock’s 50-day moving average price is $16.78 and its two-hundred day moving average price is $16.60.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were given a $0.115 dividend. The ex-dividend date was Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. This is a positive change from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in First Trust Multi-Asset Diversified Income Index Fund by 147.0% in the second quarter. Ameriprise Financial Inc. now owns 1,538,244 shares of the company’s stock valued at $24,348,000 after purchasing an additional 915,595 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 590.4% during the second quarter. Ameritas Advisory Services LLC now owns 95,576 shares of the company’s stock worth $1,579,000 after purchasing an additional 81,733 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 11.5% in the 4th quarter. Royal Bank of Canada now owns 409,695 shares of the company’s stock valued at $6,441,000 after buying an additional 42,304 shares during the period. TMB Capital Partners LLC acquired a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the 4th quarter valued at $657,000. Finally, Harbour Investments Inc. grew its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 8.1% in the 4th quarter. Harbour Investments Inc. now owns 418,547 shares of the company’s stock valued at $6,580,000 after buying an additional 31,184 shares during the period.

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.