First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Trading Up 0.1% – Still a Buy?

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) shares rose 0.1% during trading on Monday . The stock traded as high as $16.48 and last traded at $16.43. Approximately 35,103 shares traded hands during mid-day 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 Performance

The company has a 50-day simple moving average of $16.57 and a two-hundred day simple moving average of $16.31. The firm has a market capitalization of $407.46 million, a P/E ratio of 14.11 and a beta of 0.54.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 21st were given a dividend of $0.1321 per share. This is a boost from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.05. This represents a c) annualized dividend and a dividend yield of 9.6%. The ex-dividend date was Thursday, May 21st.

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. 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. D.A. Davidson & CO. bought a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the 4th quarter valued at $169,000. PFG Investments LLC purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter worth about $174,000. Sanctuary Advisors LLC purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter worth about $174,000. Finally, Great Valley Advisor Group Inc. bought a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the 4th quarter worth about $193,000.

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.