First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Stock Price Down 0.3% – Here’s Why

First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV – Get Free Report) shares fell 0.3% during mid-day trading on Monday . The stock traded as low as $16.79 and last traded at $16.83. Approximately 80,489 shares traded hands during trading, an increase of 11% from the average session volume of 72,430 shares. The stock had previously closed at $16.88.

First Trust Multi-Asset Diversified Income Index Fund Stock Performance

The firm has a market capitalization of $429.62 million, a PE ratio of 14.11 and a beta of 0.54. The business’s fifty day simple moving average is $16.62 and its 200-day simple moving average is $16.44.

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First Trust Multi-Asset Diversified Income Index Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 21st will be given a dividend of $0.0684 per share. The ex-dividend date is Tuesday, July 21st. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 147.0% during the 2nd 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 shares of First Trust Multi-Asset Diversified Income Index Fund by 3.1% during the fourth quarter. Stifel Financial Corp now owns 582,651 shares of the company’s stock valued at $9,159,000 after purchasing an additional 17,582 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of 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 worth $9,124,000 after purchasing an additional 6,656 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of First Trust Multi-Asset Diversified Income Index Fund by 2.4% in the first quarter. Royal Bank of Canada now owns 419,475 shares of the company’s stock worth $6,783,000 after purchasing an additional 9,780 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 8.1% in the fourth quarter. Harbour Investments Inc. now owns 418,547 shares of the company’s stock worth $6,580,000 after buying an additional 31,184 shares in the last quarter.

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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