Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Update

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 18,048 shares, a decrease of 37.7% from the May 31st total of 28,953 shares. Based on an average trading volume of 24,797 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACV. Newbridge Financial Services Group Inc. bought a new stake in Virtus Diversified Income & Convertible Fund during the second quarter valued at about $27,000. CENTRAL TRUST Co acquired a new position in shares of Virtus Diversified Income & Convertible Fund during the 1st quarter worth about $36,000. International Assets Investment Management LLC acquired a new position in shares of Virtus Diversified Income & Convertible Fund during the 4th quarter worth about $73,000. Kestra Advisory Services LLC acquired a new position in shares of Virtus Diversified Income & Convertible Fund during the 4th quarter worth about $144,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Virtus Diversified Income & Convertible Fund during the 4th quarter valued at approximately $205,000.

Virtus Diversified Income & Convertible Fund Trading Down 0.1%

NYSE ACV traded down $0.02 during trading hours on Friday, reaching $28.01. 15,756 shares of the company traded hands, compared to its average volume of 26,468. The company has a 50 day moving average of $27.40 and a two-hundred day moving average of $26.79. Virtus Diversified Income & Convertible Fund has a 12 month low of $22.27 and a 12 month high of $29.04.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be paid a $0.18 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 7.7%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 153.94%.

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.