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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 33,651 shares, a decrease of 17.7% from the March 15th total of 40,871 shares. Based on an average trading volume of 25,958 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of large investors have recently bought and sold shares of the company. Guggenheim Capital LLC boosted its position in Virtus Diversified Income & Convertible Fund by 19.7% in the fourth quarter. Guggenheim Capital LLC now owns 361,160 shares of the consumer goods maker’s stock valued at $9,495,000 after buying an additional 59,335 shares during the last quarter. LPL Financial LLC boosted its position in Virtus Diversified Income & Convertible Fund by 1.5% in the fourth quarter. LPL Financial LLC now owns 298,852 shares of the consumer goods maker’s stock valued at $7,857,000 after buying an additional 4,349 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Virtus Diversified Income & Convertible Fund by 13.3% in the fourth quarter. Advisors Asset Management Inc. now owns 222,978 shares of the consumer goods maker’s stock valued at $5,862,000 after buying an additional 26,251 shares during the last quarter. Raymond James Financial Inc. boosted its position in Virtus Diversified Income & Convertible Fund by 10.1% in the third quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock valued at $3,425,000 after buying an additional 13,064 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Virtus Diversified Income & Convertible Fund by 2.0% in the third quarter. Bank of America Corp DE now owns 96,646 shares of the consumer goods maker’s stock valued at $2,329,000 after buying an additional 1,888 shares during the last quarter.

Virtus Diversified Income & Convertible Fund Stock Performance

Shares of ACV traded down $0.08 during mid-day trading on Friday, hitting $25.52. 42,035 shares of the company traded hands, compared to its average volume of 29,642. Virtus Diversified Income & Convertible Fund has a 1-year low of $18.50 and a 1-year high of $29.04. The business has a 50 day moving average of $26.03 and a 200 day moving average of $26.02.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 8.5%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is 164.85%.

About Virtus Diversified Income & Convertible Fund

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.