Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Update

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 40,871 shares, a drop of 21.2% from the February 26th total of 51,867 shares. Based on an average daily volume of 17,656 shares, the days-to-cover ratio is presently 2.3 days.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Large investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. bought a new stake in Virtus Diversified Income & Convertible Fund during the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC bought a new position in shares of Virtus Diversified Income & Convertible Fund in the third quarter valued at approximately $48,000. International Assets Investment Management LLC bought a new position in shares of Virtus Diversified Income & Convertible Fund in the fourth quarter valued at approximately $73,000. Kestra Advisory Services LLC purchased a new position in shares of Virtus Diversified Income & Convertible Fund during the fourth quarter valued at approximately $144,000. Finally, Cornerstone Advisors LLC purchased a new position in shares of Virtus Diversified Income & Convertible Fund during the third quarter valued at approximately $178,000.

Virtus Diversified Income & Convertible Fund Stock Performance

ACV traded down $0.15 during trading on Monday, hitting $24.06. 18,383 shares of the company’s stock were exchanged, compared to its average volume of 25,368. The business’s 50 day moving average is $26.84 and its two-hundred day moving average is $25.94. Virtus Diversified Income & Convertible Fund has a fifty-two week low of $17.00 and a fifty-two week high of $29.04.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 11th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 9.0%. Virtus Diversified Income & Convertible Fund’s payout ratio is presently 153.94%.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.