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

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 15,773 shares, a decline of 83.3% from the June 30th total of 94,495 shares. Based on an average trading volume of 71,099 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

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

A number of hedge funds and other institutional investors have recently modified their holdings of MDIV. Western Wealth Management LLC acquired a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the first quarter valued at about $49,000. D.A. Davidson & CO. bought a new stake in First Trust Multi-Asset Diversified Income Index Fund in the 4th quarter valued at about $169,000. PFG Investments LLC acquired a new position in shares of First Trust Multi-Asset Diversified Income Index Fund during the 1st quarter worth approximately $174,000. Sanctuary Advisors LLC acquired a new position in shares of First Trust Multi-Asset Diversified Income Index Fund during the 1st quarter worth approximately $174,000. Finally, Flaharty Asset Management LLC bought a new position in shares of First Trust Multi-Asset Diversified Income Index Fund during the second quarter worth approximately $192,000.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

Shares of NASDAQ MDIV traded up $0.08 during trading hours on Friday, reaching $16.77. 28,843 shares of the stock were exchanged, compared to its average volume of 71,517. The firm has a market capitalization of $428.50 million, a price-to-earnings ratio of 14.11 and a beta of 0.54. First Trust Multi-Asset Diversified Income Index Fund has a 52 week low of $15.52 and a 52 week high of $17.00. The stock’s fifty day simple moving average is $16.63 and its 200 day simple moving average is $16.46.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 21st will be issued a $0.0684 dividend. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, July 21st.

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.