First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Increases Dividend to $0.16 Per Share

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) announced a monthly dividend on Wednesday, June 24th. Investors of record on Thursday, June 25th will be given a dividend of 0.1588 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date is Thursday, June 25th. This is a 20.2% increase from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.13.

First Trust Multi-Asset Diversified Income Index Fund Price Performance

Shares of MDIV opened at $16.54 on Thursday. The stock has a market capitalization of $410.19 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 1 year low of $15.52 and a 1 year high of $16.81. The business’s 50 day simple moving average is $16.57 and its 200-day simple moving average is $16.32.

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

Hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 147.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,538,244 shares of the company’s stock worth $24,348,000 after buying an additional 915,595 shares in the last quarter. Elevation Capital Advisory LLC purchased a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the 4th quarter valued at about $2,745,000. Total Clarity Wealth Management Inc. raised its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 92.7% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 109,460 shares of the company’s stock valued at $1,756,000 after buying an additional 52,660 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 11.5% in the 4th quarter. Royal Bank of Canada now owns 409,695 shares of the company’s stock valued at $6,441,000 after acquiring an additional 42,304 shares during the last quarter. Finally, TMB Capital Partners LLC bought a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the 4th quarter valued at about $657,000.

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.