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

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) shares traded down 0.3% on Monday . The stock traded as low as $16.79 and last traded at $16.83. Approximately 80,489 shares changed hands during mid-day 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 Trading Down 0.3%

The company has a market cap of $429.16 million, a P/E ratio of 14.11 and a beta of 0.54. The stock’s 50-day moving average price is $16.61 and its 200-day moving average price is $16.43.

First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDIV. Western Wealth Management LLC bought a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the first quarter valued at approximately $49,000. D.A. Davidson & CO. bought a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the 4th quarter worth $169,000. PFG Investments LLC acquired a new stake in First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter valued at $174,000. Sanctuary Advisors LLC acquired a new stake in First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter valued at $174,000. Finally, Flaharty Asset Management LLC bought a new stake in First Trust Multi-Asset Diversified Income Index Fund during the 2nd quarter valued at $192,000.

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.