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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 20,000 shares, an increase of 37.0% from the September 30th total of 14,600 shares. Based on an average daily volume of 40,000 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 40,000 shares, the days-to-cover ratio is currently 0.5 days.

Virtus Diversified Income & Convertible Fund Trading Down 0.8%

Shares of NYSE:ACV traded down $0.20 during midday trading on Tuesday, reaching $25.65. 37,335 shares of the company’s stock traded hands, compared to its average volume of 33,675. Virtus Diversified Income & Convertible Fund has a one year low of $17.00 and a one year high of $26.00. The stock has a 50 day moving average of $24.24 and a 200 day moving average of $22.76.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a c) dividend on an annualized basis and a yield of 8.4%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. LPL Financial LLC raised its stake in shares of Virtus Diversified Income & Convertible Fund by 1.8% in the first quarter. LPL Financial LLC now owns 284,518 shares of the consumer goods maker’s stock worth $5,690,000 after buying an additional 4,991 shares during the period. Shaker Financial Services LLC raised its stake in shares of Virtus Diversified Income & Convertible Fund by 14.6% in the first quarter. Shaker Financial Services LLC now owns 42,344 shares of the consumer goods maker’s stock worth $847,000 after buying an additional 5,391 shares during the period. Invesco Ltd. bought a new position in shares of Virtus Diversified Income & Convertible Fund in the first quarter worth about $205,000. Elequin Capital LP bought a new position in shares of Virtus Diversified Income & Convertible Fund in the first quarter worth about $37,000. Finally, Royal Bank of Canada raised its stake in shares of Virtus Diversified Income & Convertible Fund by 18.4% in the first quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock worth $1,310,000 after buying an additional 10,200 shares during the period.

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.