Short Interest in Virtus Diversified Income & Convertible Fund (NYSE:ACV) Drops By 37.7%

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

Virtus Diversified Income & Convertible Fund Stock Down 0.8%

Shares of ACV traded down $0.22 during mid-day trading on Thursday, hitting $28.01. 15,756 shares of the company’s stock were exchanged, compared to its average volume of 26,468. Virtus Diversified Income & Convertible Fund has a fifty-two week low of $22.27 and a fifty-two week high of $29.04. The stock’s 50-day moving average is $27.36 and its 200-day moving average is $26.77.

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 dividend of $0.18 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Thursday, August 13th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is presently 153.94%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACV. Emissary Wealth LLC purchased a new position in shares of Virtus Diversified Income & Convertible Fund during the fourth quarter worth approximately $2,090,000. Guggenheim Capital LLC raised its position in Virtus Diversified Income & Convertible Fund by 19.7% in the 4th quarter. Guggenheim Capital LLC now owns 361,160 shares of the consumer goods maker’s stock valued at $9,495,000 after purchasing an additional 59,335 shares during the last quarter. PMG Family Office LLC acquired a new stake in Virtus Diversified Income & Convertible Fund during the 3rd quarter worth $1,058,000. Advisors Asset Management Inc. boosted its stake in Virtus Diversified Income & Convertible Fund by 13.3% during the 4th quarter. Advisors Asset Management Inc. now owns 222,978 shares of the consumer goods maker’s stock worth $5,862,000 after purchasing an additional 26,251 shares during the period. Finally, Raymond James Financial Inc. grew its position in Virtus Diversified Income & Convertible Fund by 10.1% during the 3rd quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock worth $3,425,000 after purchasing an additional 13,064 shares during the last quarter.

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.