Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Down 21.2% in March

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 40,871 shares, a drop of 21.2% from the February 26th total of 51,867 shares. Based on an average daily volume of 17,656 shares, the short-interest ratio is currently 2.3 days.

Institutional Trading of Virtus Diversified Income & Convertible Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of Virtus Diversified Income & Convertible Fund during the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC acquired a new position in Virtus Diversified Income & Convertible Fund during the third quarter valued at approximately $48,000. International Assets Investment Management LLC bought a new stake in Virtus Diversified Income & Convertible Fund during the fourth quarter worth $73,000. Kestra Advisory Services LLC bought a new stake in Virtus Diversified Income & Convertible Fund during the fourth quarter worth $144,000. Finally, Cornerstone Advisors LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the 3rd quarter valued at $178,000.

Virtus Diversified Income & Convertible Fund Stock Down 2.6%

ACV stock opened at $24.21 on Friday. The business has a 50-day simple moving average of $26.84 and a 200 day simple moving average of $25.93. Virtus Diversified Income & Convertible Fund has a 52 week low of $17.00 and a 52 week high of $29.04.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 11th will be issued a $0.18 dividend. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Monday, May 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is currently 153.94%.

Virtus Diversified Income & Convertible Fund Company Profile

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.