Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Up 160.0% in July

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 9,100 shares, a growth of 160.0% from the July 15th total of 3,500 shares. Based on an average trading volume of 34,200 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of large investors have recently made changes to their positions in ACV. International Assets Investment Management LLC acquired a new stake in Virtus Diversified Income & Convertible Fund during the 2nd quarter worth about $51,000. Janney Montgomery Scott LLC purchased a new stake in Virtus Diversified Income & Convertible Fund in the first quarter valued at approximately $209,000. Commonwealth Equity Services LLC increased its holdings in Virtus Diversified Income & Convertible Fund by 42.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock worth $268,000 after buying an additional 3,745 shares during the period. Shaker Financial Services LLC acquired a new stake in Virtus Diversified Income & Convertible Fund during the 2nd quarter valued at approximately $454,000. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Virtus Diversified Income & Convertible Fund by 4.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 24,621 shares of the consumer goods maker’s stock valued at $521,000 after acquiring an additional 1,062 shares during the period.

Virtus Diversified Income & Convertible Fund Price Performance

NYSE ACV traded up $0.16 on Thursday, hitting $20.90. The stock had a trading volume of 13,414 shares, compared to its average volume of 33,263. Virtus Diversified Income & Convertible Fund has a 52-week low of $16.82 and a 52-week high of $24.50. The business’s fifty day moving average price is $20.83 and its 200 day moving average price is $22.04.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Monday, August 12th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.33%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Virtus Diversified Income & Convertible Fund Company Profile

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.