First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) Stock Price Down 0.1% – Should You Sell?

Shares of First Trust Multi-Asset Diversified Income Index Fund (NASDAQ:MDIV) were down 0.1% during trading on Thursday . The company traded as low as $16.34 and last traded at $16.41. Approximately 93,200 shares changed hands during trading, an increase of 21% from the average daily volume of 77,185 shares. The stock had previously closed at $16.4342.

First Trust Multi-Asset Diversified Income Index Fund Price Performance

The stock has a market cap of $409.18 million, a price-to-earnings ratio of 14.11 and a beta of 0.62. The company’s fifty day simple moving average is $16.31 and its two-hundred day simple moving average is $16.04.

First Trust Multi-Asset Diversified Income Index Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were issued a $0.0772 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, February 20th.

Hedge Funds Weigh In On First Trust Multi-Asset Diversified Income Index Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in shares of First Trust Multi-Asset Diversified Income Index Fund by 5.6% in the fourth quarter. Comerica Bank now owns 12,436 shares of the company’s stock worth $195,000 after purchasing an additional 654 shares during the last quarter. Advisory Services Network LLC boosted its position in shares of First Trust Multi-Asset Diversified Income Index Fund by 5.7% during the third quarter. Advisory Services Network LLC now owns 12,293 shares of the company’s stock valued at $197,000 after buying an additional 660 shares during the last quarter. TrueWealth Advisors LLC grew its holdings in First Trust Multi-Asset Diversified Income Index Fund by 1.6% during the third quarter. TrueWealth Advisors LLC now owns 54,217 shares of the company’s stock worth $870,000 after buying an additional 867 shares in the last quarter. Freedom Financial Partners LLC raised its position in First Trust Multi-Asset Diversified Income Index Fund by 2.6% in the 4th quarter. Freedom Financial Partners LLC now owns 35,666 shares of the company’s stock valued at $561,000 after buying an additional 905 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in First Trust Multi-Asset Diversified Income Index Fund by 7.1% during the 3rd quarter. Prospera Financial Services Inc now owns 16,614 shares of the company’s stock valued at $267,000 after acquiring an additional 1,106 shares in the last quarter.

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.