First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Sees Large Growth in Short Interest

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

First Trust Multi-Asset Diversified Income Index Fund Stock Up 0.2%

Shares of First Trust Multi-Asset Diversified Income Index Fund stock opened at $16.58 on Tuesday. The stock has a market capitalization of $411.18 million, a price-to-earnings ratio of 14.11 and a beta of 0.54. First Trust Multi-Asset Diversified Income Index Fund has a twelve month low of $15.52 and a twelve month high of $16.81. The company has a 50-day simple moving average of $16.57 and a two-hundred day simple moving average of $16.34.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

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

Institutional Investors Weigh In On First Trust Multi-Asset Diversified Income Index Fund

Several institutional investors have recently made changes to their positions in MDIV. Western Wealth Management LLC bought a new position in First Trust Multi-Asset Diversified Income Index Fund during the 1st quarter worth $49,000. D.A. Davidson & CO. bought a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the 4th quarter valued at $169,000. PFG Investments LLC bought a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the 1st quarter valued at $174,000. Sanctuary Advisors LLC acquired a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the 1st quarter worth $174,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the 4th quarter worth $193,000.

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.