First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Stock Short Interest Falls 80.9%

Key Points

• Short interest plunged 80.9% to 3,376 shares as of September 30, representing virtually 0% of MDIV’s shares outstanding and only 0.1 days of average trading volume.
• Several institutional investors increased or initiated positions, including Bank of America and Royal Bank of Canada, while Flaharty Asset Management, Western Wealth Management, and Sanctuary Advisors opened new stakes.
• MDIV shares opened at $15.85, near the lower end of their 52-week range, while the fund reduced its monthly dividend to $0.096 from $0.115, implying an annualized yield of about 7.3%.

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV - ) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 3,376 shares, a decrease of 80.9% from the September 15th total of 17,653 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 62,980 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On First Trust Multi-Asset Diversified Income Index Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flaharty Asset Management LLC bought a new position in First Trust Multi-Asset Diversified Income Index Fund in the 2nd quarter worth approximately $192,000. Western Wealth Management LLC bought a new position in First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter valued at $49,000. Bank of America Corp DE boosted its position in First Trust Multi-Asset Diversified Income Index Fund by 1.2% in the 1st quarter. Bank of America Corp DE now owns 564,283 shares of the company's stock valued at $9,124,000 after buying an additional 6,656 shares during the last quarter. Royal Bank of Canada increased its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 2.4% in the 1st quarter. Royal Bank of Canada now owns 419,475 shares of the company's stock valued at $6,783,000 after buying an additional 9,780 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter valued at $174,000.

First Trust Multi-Asset Diversified Income Index Fund Stock Down 0.3%

Shares of MDIV stock opened at $15.85 on Friday. First Trust Multi-Asset Diversified Income Index Fund has a 12 month low of $15.52 and a 12 month high of $17.02. The business's 50 day moving average is $16.51 and its two-hundred day moving average is $16.54. The company has a market cap of $408.14 million, a PE ratio of 14.11 and a beta of 0.55.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Thursday, September 24th were issued a $0.0960 dividend. This is a drop from First Trust Multi-Asset Diversified Income Index Fund's previous monthly dividend of $0.1150. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $1.15 dividend on an annualized basis and a yield of 7.3%.

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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