Virtus Diversified Income & Convertible Fund (NYSE:ACV) Sees Large Decrease in Short Interest

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 40,500 shares, a decline of 36.0% from the February 29th total of 63,300 shares. Based on an average trading volume of 38,900 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Several institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its stake in Virtus Diversified Income & Convertible Fund by 12.0% in the 1st quarter. D.A. Davidson & CO. now owns 7,910 shares of the consumer goods maker’s stock valued at $201,000 after purchasing an additional 850 shares during the period. Stifel Financial Corp grew its holdings in shares of Virtus Diversified Income & Convertible Fund by 2.6% during the 1st quarter. Stifel Financial Corp now owns 37,425 shares of the consumer goods maker’s stock worth $723,000 after purchasing an additional 938 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Virtus Diversified Income & Convertible Fund by 4.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 24,621 shares of the consumer goods maker’s stock worth $521,000 after purchasing an additional 1,062 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Virtus Diversified Income & Convertible Fund by 4.4% during the 1st quarter. Royal Bank of Canada now owns 42,153 shares of the consumer goods maker’s stock worth $1,073,000 after purchasing an additional 1,774 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Virtus Diversified Income & Convertible Fund by 1.9% during the 1st quarter. Bank of America Corp DE now owns 107,230 shares of the consumer goods maker’s stock worth $2,071,000 after purchasing an additional 2,026 shares in the last quarter.

Virtus Diversified Income & Convertible Fund Stock Performance

Shares of NYSE ACV traded up $0.32 during midday trading on Friday, hitting $23.95. 46,808 shares of the company’s stock were exchanged, compared to its average volume of 37,285. The company’s 50 day moving average price is $22.74 and its 200 day moving average price is $20.50. Virtus Diversified Income & Convertible Fund has a 12 month low of $16.82 and a 12 month high of $23.98.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be paid a $0.18 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.16 annualized dividend and a yield of 9.02%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 141.82%.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus Diversified Income & Convertible Fund is a closed-ended balanced mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.