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

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 95,710 shares, an increase of 107.4% from the February 26th total of 46,147 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 57,805 shares, the days-to-cover ratio is presently 1.7 days.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Realta Investment Advisors purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the 3rd quarter worth about $39,000. D.A. Davidson & CO. purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the fourth quarter worth $169,000. Great Valley Advisor Group Inc. purchased a new stake in First Trust Multi-Asset Diversified Income Index Fund during the 4th quarter valued at about $193,000. Comerica Bank grew its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 5.6% during the fourth quarter. Comerica Bank now owns 12,436 shares of the company’s stock valued at $195,000 after buying an additional 654 shares during the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 5.7% in the 3rd quarter. Advisory Services Network LLC now owns 12,293 shares of the company’s stock worth $197,000 after purchasing an additional 660 shares in the last quarter.

First Trust Multi-Asset Diversified Income Index Fund Trading Down 1.0%

Shares of First Trust Multi-Asset Diversified Income Index Fund stock traded down $0.16 during trading on Thursday, hitting $16.14. The stock had a trading volume of 71,523 shares, compared to its average volume of 82,447. The firm has a market cap of $402.69 million, a price-to-earnings ratio of 14.11 and a beta of 0.62. The business’s 50-day moving average is $16.40 and its 200 day moving average is $16.04. First Trust Multi-Asset Diversified Income Index Fund has a 12 month low of $14.74 and a 12 month high of $16.81.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th will be paid a dividend of $0.134 per share. This represents a c) annualized dividend and a dividend yield of 10.0%. This is a boost from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.08. The ex-dividend date of this dividend is Thursday, March 26th.

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.