First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Trading Down 0.3% – Here’s Why

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV)’s stock price traded down 0.3% during mid-day trading on Monday . The stock traded as low as $16.79 and last traded at $16.83. Approximately 80,489 shares were traded during trading, an increase of 11% from the average daily volume of 72,430 shares. The stock had previously closed at $16.88.

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

The company has a 50-day moving average of $16.61 and a 200 day moving average of $16.43. The firm has a market capitalization of $429.16 million, a PE ratio of 14.11 and a beta of 0.54.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were given a dividend of $0.1588 per share. This is a boost from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.13. The ex-dividend date was Thursday, June 25th. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. increased its position in shares of 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 worth $24,348,000 after purchasing an additional 915,595 shares during the last quarter. Stifel Financial Corp lifted its position in First Trust Multi-Asset Diversified Income Index Fund by 3.1% during the fourth quarter. Stifel Financial Corp now owns 582,651 shares of the company’s stock valued at $9,159,000 after purchasing an additional 17,582 shares during the last quarter. Bank of America Corp DE lifted its position in First Trust Multi-Asset Diversified Income Index Fund by 1.2% during the first quarter. Bank of America Corp DE now owns 564,283 shares of the company’s stock valued at $9,124,000 after purchasing an additional 6,656 shares during the last quarter. Royal Bank of Canada grew its stake in 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 worth $6,783,000 after buying an additional 9,780 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in 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.

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.