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

Key Points

• Short interest rose 46.2% in April to 84,845 shares (from 58,044 on March 31), leaving a short-interest ratio of 1.2 days and about 0.3% of shares shorted.
• The fund declared a monthly dividend of $0.052 (ex‑dividend Apr 21, paid Apr 30), implying an annualized yield of about 3.8%.
• MDIV is a multi-asset income ETF that equally weights dividend-paying equities, REITs, preferreds, MLPs and a high-yield bond ETF; shares recently traded near $16.52 and the fund has a market cap around $406M.

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV - ) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totaling 84,845 shares, an increase of 46.2% from the March 31st total of 58,044 shares. Based on an average trading volume of 73,620 shares, the short-interest ratio is presently 1.2 days. Currently, 0.3% of the company's stock are short sold.

Institutional Trading of First Trust Multi-Asset Diversified Income Index Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Realta Investment Advisors acquired a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the third quarter worth about $39,000. D.A. Davidson & CO. acquired a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the fourth quarter worth about $169,000. PFG Investments LLC acquired a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the first quarter worth about $174,000. Great Valley Advisor Group Inc. acquired a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the fourth quarter worth about $193,000. Finally, Comerica Bank lifted its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 5.6% in the fourth quarter. Comerica Bank now owns 12,436 shares of the company's stock worth $195,000 after buying an additional 654 shares during the last quarter.

First Trust Multi-Asset Diversified Income Index Fund Trading Up 0.4%

Shares of NASDAQ:MDIV opened at $16.52 on Tuesday. 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 business has a fifty day simple moving average of $16.43 and a 200 day simple moving average of $16.09. The firm has a market cap of $406.39 million, a price-to-earnings ratio of 14.11 and a beta of 0.57.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 21st will be given a $0.052 dividend. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%.

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.

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