First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Shares Shorted: Short Interest Down 70.3% in September

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 17,653 shares, a drop of 70.3% from the August 31st total of 59,474 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 61,531 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised 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 in the last quarter. Royal Bank of Canada raised its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 2.4% during 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 in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 13.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 180,203 shares of the company’s stock valued at $2,833,000 after buying an additional 20,826 shares in the last quarter. Kestra Advisory Services LLC lifted its position in First Trust Multi-Asset Diversified Income Index Fund by 13.1% in the 1st quarter. Kestra Advisory Services LLC now owns 132,134 shares of the company’s stock worth $2,137,000 after buying an additional 15,276 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in First Trust Multi-Asset Diversified Income Index Fund by 29.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 124,986 shares of the company’s stock worth $2,065,000 after buying an additional 28,134 shares during the last quarter.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

First Trust Multi-Asset Diversified Income Index Fund stock traded down $0.01 during mid-day trading on Friday, hitting $16.02. 83,107 shares of the company traded hands, compared to its average volume of 68,011. First Trust Multi-Asset Diversified Income Index Fund has a one year low of $15.52 and a one year high of $17.02. The stock has a market cap of $412.51 million, a price-to-earnings ratio of 14.11 and a beta of 0.54. The stock has a fifty day moving average price of $16.70 and a 200-day moving average price of $16.58.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.0960 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 7.2%. This is a decrease from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.1150.

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.