First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Short Interest Up 58.4% in July

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 24,982 shares, an increase of 58.4% from the July 15th total of 15,773 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 47,501 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of First Trust Multi-Asset Diversified Income Index Fund

Several hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC bought a new position in First Trust Multi-Asset Diversified Income Index Fund in the 1st quarter worth about $49,000. Flaharty Asset Management LLC bought a new position in shares of First Trust Multi-Asset Diversified Income Index Fund in the second quarter worth $192,000. Fifth Third Bancorp acquired a new position in shares of First Trust Multi-Asset Diversified Income Index Fund during the first quarter valued at $196,000. Sanctuary Advisors LLC bought a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the first quarter valued at about $174,000. Finally, PFG Investments LLC bought a new stake in shares of First Trust Multi-Asset Diversified Income Index Fund during the first quarter valued at about $174,000.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

MDIV stock opened at $16.94 on Thursday. The stock has a market capitalization of $432.82 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 $17.02. The stock’s fifty day moving average is $16.71 and its two-hundred day moving average is $16.57.

First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 21st were issued a $0.0684 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, July 21st.

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.