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

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACV. Invesco Ltd. lifted its position in Virtus Diversified Income & Convertible Fund by 100.8% during the fourth quarter. Invesco Ltd. now owns 20,601 shares of the consumer goods maker’s stock worth $542,000 after purchasing an additional 10,341 shares during the period. Guggenheim Capital LLC grew its stake in Virtus Diversified Income & Convertible Fund by 19.7% during the fourth quarter. Guggenheim Capital LLC now owns 361,160 shares of the consumer goods maker’s stock worth $9,495,000 after buying an additional 59,335 shares in the last quarter. &PARTNERS bought a new position in Virtus Diversified Income & Convertible Fund in the 4th quarter valued at about $216,000. Royal Bank of Canada increased its holdings in Virtus Diversified Income & Convertible Fund by 4.3% in the 4th quarter. Royal Bank of Canada now owns 69,462 shares of the consumer goods maker’s stock valued at $1,826,000 after buying an additional 2,892 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of Virtus Diversified Income & Convertible Fund in the 4th quarter valued at approximately $144,000.

Virtus Diversified Income & Convertible Fund Stock Up 2.4%

Shares of ACV traded up $0.56 during mid-day trading on Tuesday, hitting $24.30. 27,758 shares of the company’s stock were exchanged, compared to its average volume of 25,581. Virtus Diversified Income & Convertible Fund has a 52 week low of $17.00 and a 52 week high of $29.04. The stock’s 50-day simple moving average is $26.72 and its 200-day simple moving average is $25.95.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business 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. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Monday, May 11th. Virtus Diversified Income & Convertible Fund’s dividend 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.