First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Stock Price Up 0.1% – What’s Next?

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV)’s stock price was up 0.1% during trading on Monday . The stock traded as high as $16.48 and last traded at $16.43. 35,103 shares were traded during trading, a decline of 52% from the average daily volume of 73,343 shares. The stock had previously closed at $16.42.

First Trust Multi-Asset Diversified Income Index Fund Stock Up 0.1%

The stock’s fifty day simple moving average is $16.57 and its two-hundred day simple moving average is $16.31. The firm has a market cap of $407.46 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 declared a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 21st were given a $0.1321 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 9.6%. This is an increase from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.05.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC purchased a new position in First Trust Multi-Asset Diversified Income Index Fund during the first quarter valued at $49,000. Bank of America Corp DE boosted its holdings in First Trust Multi-Asset Diversified Income Index Fund by 1.2% in the first quarter. Bank of America Corp DE now owns 564,283 shares of the company’s stock worth $9,124,000 after acquiring an additional 6,656 shares in the last quarter. Royal Bank of Canada grew its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 2.4% in the first quarter. Royal Bank of Canada now owns 419,475 shares of the company’s stock worth $6,783,000 after acquiring an additional 9,780 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the first quarter worth $174,000. Finally, Fifth Third Bancorp bought a new position in shares of First Trust Multi-Asset Diversified Income Index Fund during the first quarter valued at $196,000.

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.