First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Trading Down 0.2% - What's Next?

Key Points

• MDIV shares slipped 0.2% to $16.90 on Monday, with trading volume 51% below its average. The fund’s 50-day and 200-day moving averages were $16.70 and $16.56, respectively.
• The fund paid a monthly dividend of $0.0684 per share, equivalent to an annualized yield of approximately 4.9%.
• Institutional ownership increased, led by Ameriprise Financial, which raised its holdings by 147%. MDIV invests across dividend stocks, REITs, preferred securities, MLPs and high-yield bonds.

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV - )'s stock price traded down 0.2% during trading on Monday . The company traded as low as $16.86 and last traded at $16.90. 34,632 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 69,993 shares. The stock had previously closed at $16.93.

First Trust Multi-Asset Diversified Income Index Fund Trading Down 0.2%

The stock has a fifty day simple moving average of $16.70 and a two-hundred day simple moving average of $16.56. The company has a market cap of $431.79 million, a PE ratio of 14.11 and a beta of 0.54.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 21st were issued a dividend of $0.0684 per share. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, July 21st.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings 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 during the last quarter. Royal Bank of Canada raised its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 11.5% during the 4th quarter. Royal Bank of Canada now owns 409,695 shares of the company's stock worth $6,441,000 after buying an additional 42,304 shares during the last quarter. TMB Capital Partners LLC purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the 4th quarter worth about $657,000. Harbour Investments Inc. boosted its position 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 worth $6,580,000 after buying an additional 31,184 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 3.9% in the 3rd quarter. Bank of America Corp DE now owns 551,792 shares of the company's stock worth $8,851,000 after buying an additional 20,850 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.

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