Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Up 27.7% in April

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 45,200 shares, an increase of 27.7% from the March 31st total of 35,400 shares. Based on an average daily trading volume, of 31,900 shares, the days-to-cover ratio is presently 1.4 days.

Virtus Diversified Income & Convertible Fund Stock Performance

ACV opened at $22.28 on Tuesday. The firm’s 50-day moving average price is $23.07 and its 200-day moving average price is $21.21. Virtus Diversified Income & Convertible Fund has a 52-week low of $16.82 and a 52-week high of $24.50.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.16 annualized dividend and a dividend yield of 9.69%. Virtus Diversified Income & Convertible Fund’s payout ratio is currently 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Hedge funds have recently made changes to their positions in the company. Raymond James & Associates grew its stake in Virtus Diversified Income & Convertible Fund by 5.3% during the 3rd quarter. Raymond James & Associates now owns 94,224 shares of the consumer goods maker’s stock valued at $1,758,000 after purchasing an additional 4,722 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Virtus Diversified Income & Convertible Fund by 23.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 32,713 shares of the consumer goods maker’s stock worth $610,000 after purchasing an additional 6,291 shares during the period. Cornerstone Advisors LLC boosted its position in Virtus Diversified Income & Convertible Fund by 54.5% in the third quarter. Cornerstone Advisors LLC now owns 96,270 shares of the consumer goods maker’s stock valued at $1,796,000 after buying an additional 33,953 shares during the last quarter. LPL Financial LLC increased its holdings in Virtus Diversified Income & Convertible Fund by 79.6% in the 3rd quarter. LPL Financial LLC now owns 377,946 shares of the consumer goods maker’s stock worth $7,052,000 after buying an additional 167,546 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Virtus Diversified Income & Convertible Fund by 3.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 170,449 shares of the consumer goods maker’s stock worth $3,181,000 after buying an additional 6,104 shares during the period.

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.