First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Stock Short Interest Rises 133.5%

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 7,882 shares, a growth of 133.5% from the September 30th total of 3,376 shares. Based on an average trading volume of 56,100 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDIV. Bank of America Corp DE boosted its holdings in First Trust Multi-Asset Diversified Income Index Fund by 1.2% in 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 during the last quarter. Royal Bank of Canada grew its stake in 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 purchasing an additional 9,780 shares in the last quarter. Kestra Advisory Services LLC grew its stake in First Trust Multi-Asset Diversified Income Index Fund by 13.1% during the 1st quarter. Kestra Advisory Services LLC now owns 132,134 shares of the company’s stock valued at $2,137,000 after purchasing an additional 15,276 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in First Trust Multi-Asset Diversified Income Index Fund by 29.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 124,986 shares of the company’s stock worth $2,065,000 after purchasing an additional 28,134 shares during the last quarter. Finally, Ameritas Advisory Services LLC increased its holdings in First Trust Multi-Asset Diversified Income Index Fund by 590.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 95,576 shares of the company’s stock worth $1,579,000 after purchasing an additional 81,733 shares during the last quarter.

First Trust Multi-Asset Diversified Income Index Fund Stock Down 0.2%

Shares of MDIV traded down $0.03 during mid-day trading on Friday, reaching $16.20. 41,475 shares of the stock traded hands, compared to its average volume of 66,619. The stock has a fifty day simple moving average of $16.29 and a 200 day simple moving average of $16.47. First Trust Multi-Asset Diversified Income Index Fund has a 12-month low of $15.52 and a 12-month high of $17.02. The firm has a market cap of $417.28 million, a price-to-earnings ratio of 14.11 and a beta of 0.55.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, October 21st will be issued a dividend of $0.0772 per share. This represents a $0.93 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, October 21st. This is a negative change from First Trust Multi-Asset Diversified Income Index Fund’s previous monthly dividend of $0.0960.

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.