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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 7,900 shares, a decrease of 12.2% from the June 15th total of 9,000 shares. Based on an average trading volume of 31,600 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its position in shares of Virtus Diversified Income & Convertible Fund by 21.6% during the first quarter. Advisors Asset Management Inc. now owns 283,040 shares of the consumer goods maker’s stock valued at $6,779,000 after buying an additional 50,326 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the 1st quarter valued at about $209,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Virtus Diversified Income & Convertible Fund by 4.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 24,621 shares of the consumer goods maker’s stock worth $521,000 after acquiring an additional 1,062 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 5.5% during the fourth quarter. Wells Fargo & Company MN now owns 480,652 shares of the consumer goods maker’s stock valued at $10,084,000 after purchasing an additional 25,116 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in Virtus Diversified Income & Convertible Fund during the fourth quarter valued at approximately $526,000.

Virtus Diversified Income & Convertible Fund Stock Performance

Shares of Virtus Diversified Income & Convertible Fund stock traded down $0.03 during midday trading on Monday, hitting $21.15. The company had a trading volume of 27,018 shares, compared to its average volume of 33,972. Virtus Diversified Income & Convertible Fund has a 52-week low of $16.82 and a 52-week high of $24.50. The company has a 50 day moving average of $21.48 and a 200 day moving average of $22.16.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.16 annualized dividend and a yield of 10.22%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is 130.91%.

About Virtus Diversified Income & Convertible Fund

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.