First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Trading 0.1% Higher – Here’s Why

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV – Get Free Report)’s share price traded up 0.1% during trading on Monday . The company traded as high as $16.48 and last traded at $16.43. Approximately 35,103 shares were traded during trading, a decline of 52% from the average session volume of 73,343 shares. The stock had previously closed at $16.42.

First Trust Multi-Asset Diversified Income Index Fund Stock Down 0.1%

The stock has a 50-day moving average of $16.57 and a 200 day moving average of $16.32. The stock has a market cap of $410.19 million, a PE ratio of 14.11 and a beta of 0.54.

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First Trust Multi-Asset Diversified Income Index Fund Increases Dividend

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

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its holdings in First Trust Multi-Asset Diversified Income Index Fund by 147.0% in the second quarter. Ameriprise Financial Inc. now owns 1,538,244 shares of the company’s stock valued at $24,348,000 after purchasing an additional 915,595 shares during the last quarter. Stifel Financial Corp grew its position in First Trust Multi-Asset Diversified Income Index Fund by 3.1% during the 4th quarter. Stifel Financial Corp now owns 582,651 shares of the company’s stock worth $9,159,000 after purchasing an additional 17,582 shares during the period. Bank of America Corp DE raised its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 1.2% during the 1st quarter. Bank of America Corp DE now owns 564,283 shares of the company’s stock valued at $9,124,000 after buying an additional 6,656 shares during the last quarter. Royal Bank of Canada raised its stake in shares of 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 buying an additional 9,780 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 8.1% in the 4th quarter. Harbour Investments Inc. now owns 418,547 shares of the company’s stock valued at $6,580,000 after buying an additional 31,184 shares during the period.

About First Trust Multi-Asset Diversified Income Index Fund

(Get Free Report)

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.

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