Virtus Global Dividend & Income Fund Inc. (NYSE:ZTR) Sees Significant Drop in Short Interest

Virtus Global Dividend & Income Fund Inc. (NYSE:ZTR) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 10,400 shares, a decline of 84.6% from the June 30th total of 67,500 shares. Based on an average daily trading volume, of 317,700 shares, the days-to-cover ratio is currently 0.0 days.

Insider Buying and Selling

In other Virtus Global Dividend & Income Fund news, CFO William Patrick Bradley III purchased 5,000 shares of Virtus Global Dividend & Income Fund stock in a transaction that occurred on Monday, May 20th. The shares were bought at an average price of $5.47 per share, for a total transaction of $27,350.00. Following the acquisition, the chief financial officer now directly owns 9,043 shares in the company, valued at $49,465.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Virtus Global Dividend & Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in ZTR. Karpus Management Inc. raised its stake in Virtus Global Dividend & Income Fund by 180.6% during the fourth quarter. Karpus Management Inc. now owns 2,353,707 shares of the investment management company’s stock valued at $12,969,000 after buying an additional 1,515,022 shares during the last quarter. Bulldog Investors LLP grew its position in Virtus Global Dividend & Income Fund by 145.3% during the 4th quarter. Bulldog Investors LLP now owns 957,960 shares of the investment management company’s stock valued at $5,248,000 after purchasing an additional 567,422 shares during the last quarter. Alpine Global Management LLC raised its holdings in Virtus Global Dividend & Income Fund by 51.8% in the first quarter. Alpine Global Management LLC now owns 600,000 shares of the investment management company’s stock worth $3,342,000 after buying an additional 204,778 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Virtus Global Dividend & Income Fund in the first quarter worth approximately $1,066,000. Finally, Flow State Investments L.P. grew its holdings in shares of Virtus Global Dividend & Income Fund by 336.3% during the fourth quarter. Flow State Investments L.P. now owns 232,684 shares of the investment management company’s stock valued at $1,282,000 after buying an additional 179,355 shares during the last quarter. Institutional investors own 47.14% of the company’s stock.

Virtus Global Dividend & Income Fund Trading Up 0.7 %

Shares of NYSE ZTR traded up $0.04 during mid-day trading on Friday, hitting $5.67. 85,953 shares of the stock traded hands, compared to its average volume of 339,184. The stock has a fifty day moving average price of $5.47 and a 200-day moving average price of $5.40. Virtus Global Dividend & Income Fund has a 52 week low of $4.50 and a 52 week high of $6.27.

Virtus Global Dividend & Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 29th. Investors of record on Monday, August 12th will be paid a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a yield of 10.58%. The ex-dividend date is Monday, August 12th.

About Virtus Global Dividend & Income Fund

Virtus Global Dividend & Income Fund Inc is a closed-ended balanced mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc, Kayne Anderson Rudnick Investment Management LLC and Newfleet Asset Management, LLC. It invests in the public equity and fixed income markets of the United States.