Virtus Diversified Income & Convertible Fund (ACV) to Distribute Monthly Dividend of $0.21 on October 29th

Virtus Diversified Income & Convertible Fund (NYSE:ACV) announced a monthly dividend on Wednesday, September 23rd. Investors of record on Tuesday, October 13th will be given a dividend of $0.2150 per share by the consumer goods maker on Thursday, October 29th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Tuesday, October 13th. This is a 19.4% increase from Virtus Diversified Income & Convertible Fund’s previous monthly dividend of $0.18.

Virtus Diversified Income & Convertible Fund Stock Down 1.2%

Shares of ACV stock opened at $24.95 on Friday. Virtus Diversified Income & Convertible Fund has a 52-week low of $23.44 and a 52-week high of $29.04. The firm’s 50-day moving average is $26.54 and its 200-day moving average is $26.65.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Virtus Diversified Income & Convertible Fund during the 2nd quarter valued at $276,000. World Equity Group Inc. increased its position in shares of Virtus Diversified Income & Convertible Fund by 22.0% in the second quarter. World Equity Group Inc. now owns 41,950 shares of the consumer goods maker’s stock worth $1,189,000 after purchasing an additional 7,558 shares during the period. Bank of America Corp DE raised its stake in Virtus Diversified Income & Convertible Fund by 5.9% in the first quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock valued at $2,531,000 after purchasing an additional 5,804 shares in the last quarter. D.A. Davidson & CO. lifted its position in Virtus Diversified Income & Convertible Fund by 56.5% during the first quarter. D.A. Davidson & CO. now owns 14,198 shares of the consumer goods maker’s stock worth $345,000 after purchasing an additional 5,126 shares during the period. Finally, Royal Bank of Canada lifted its position in Virtus Diversified Income & Convertible Fund by 6.5% during the first quarter. Royal Bank of Canada now owns 73,971 shares of the consumer goods maker’s stock worth $1,797,000 after purchasing an additional 4,509 shares during the period.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund (NYSE: ACV) is a publicly traded closed-end fund managed by Virtus Investment Advisers, Inc The fund seeks to provide total return through a combination of current income and capital appreciation.

ACV invests in a diversified portfolio of income-producing securities and convertible securities. Its holdings may include convertible bonds and preferred stocks, as well as common stocks and corporate debt securities, including below-investment-grade bonds.