Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Short Interest Jumps 112.6%

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 31,261 shares, a growth of 112.6% from the September 30th total of 14,706 shares. Based on an average daily trading volume, of 40,484 shares, the short-interest ratio is presently 0.8 days.

Virtus Diversified Income & Convertible Fund Trading Down 1.0%

ACV stock traded down $0.24 during trading on Friday, reaching $23.86. The company’s stock had a trading volume of 52,718 shares, compared to its average volume of 27,973. Virtus Diversified Income & Convertible Fund has a 1 year low of $23.33 and a 1 year high of $29.04. The company’s fifty day moving average is $25.03 and its 200-day moving average is $26.47.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be given a $0.2150 dividend. This represents a $2.58 annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Thursday, November 12th. Virtus Diversified Income & Convertible Fund’s payout ratio is presently 169.09%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

A number of hedge funds have recently made changes to their positions in the business. Integrity Advisory Solutions LLC raised its stake in Virtus Diversified Income & Convertible Fund by 50.3% during the 3rd quarter. Integrity Advisory Solutions LLC now owns 10,667 shares of the consumer goods maker’s stock valued at $258,000 after purchasing an additional 3,570 shares during the period. D.A. Davidson & CO. boosted its stake in Virtus Diversified Income & Convertible Fund by 13.3% in the 3rd quarter. D.A. Davidson & CO. now owns 12,118 shares of the consumer goods maker’s stock worth $293,000 after purchasing an additional 1,420 shares during the period. Apollon Wealth Management LLC boosted its stake in Virtus Diversified Income & Convertible Fund by 2.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 21,484 shares of the consumer goods maker’s stock worth $519,000 after purchasing an additional 443 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Virtus Diversified Income & Convertible Fund during the 2nd quarter valued at approximately $276,000. Finally, Bank of America Corp DE grew its holdings in Virtus Diversified Income & Convertible Fund by 5.9% during the 1st quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock valued at $2,531,000 after buying an additional 5,804 shares in the last quarter.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol ACV. The fund seeks to provide a high level of current income and total return through a diversified portfolio of income-producing securities.

The fund invests primarily in convertible securities, high-yield corporate bonds and dividend-paying common stocks. Convertible securities can offer income while providing the potential to participate in the underlying issuer’s equity performance.