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

Key Points

• Short interest fell 37.8% to 15,531 shares as of August 14, representing just 0.1% of MDIV’s shares outstanding and a short-interest ratio of 0.2 days.
• MDIV was trading at $16.79, near the midpoint of its 52-week range, with a market capitalization of approximately $429 million and a beta of 0.54.
• The fund increased its monthly dividend to $0.115 per share from $0.07, implying an annualized yield of about 8.2%; several institutional investors also expanded their positions, led by Ameriprise Financial’s 147% increase.

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV - ) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 15,531 shares, a decrease of 37.8% from the July 30th total of 24,982 shares. Based on an average daily volume of 65,418 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company's stock are sold short.

First Trust Multi-Asset Diversified Income Index Fund Price Performance

NASDAQ MDIV opened at $16.79 on Monday. First Trust Multi-Asset Diversified Income Index Fund has a 52 week low of $15.52 and a 52 week high of $17.02. The company has a 50 day moving average price of $16.74 and a 200 day moving average price of $16.59. The firm has a market cap of $428.98 million, a PE ratio of 14.11 and a beta of 0.54.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be issued a $0.115 dividend. This is a boost from First Trust Multi-Asset Diversified Income Index Fund's previous monthly dividend of $0.07. The ex-dividend date of this dividend is Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 8.2%.

Institutional Investors 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 MDIV. Royal Bank of Canada raised its holdings in shares of 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 valued at $5,410,000 after acquiring an additional 13,600 shares during the last quarter. Baird Financial Group Inc. raised its stake 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 purchasing an additional 2,134 shares during the period. Ameriprise Financial Inc. raised its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 147.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,538,244 shares of the company's stock valued at $24,348,000 after buying an additional 915,595 shares during the period. Bank of America Corp DE lifted its holdings in First Trust Multi-Asset Diversified Income Index Fund by 3.9% in the third quarter. Bank of America Corp DE now owns 551,792 shares of the company's stock valued at $8,851,000 after acquiring an additional 20,850 shares during the last quarter. Finally, Harvest Investment Services LLC grew its position in First Trust Multi-Asset Diversified Income Index Fund by 2.7% in the third quarter. Harvest Investment Services LLC now owns 110,026 shares of the company's stock worth $1,765,000 after acquiring an additional 2,901 shares during the period.

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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