Virtus Diversified Income & Convertible Fund (NYSE:ACV) Sees Significant Increase in Short Interest

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 22,500 shares, an increase of 275.0% from the August 31st total of 6,000 shares. Based on an average trading volume of 31,600 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 31,600 shares, the days-to-cover ratio is currently 0.7 days.

Virtus Diversified Income & Convertible Fund Price Performance

Shares of NYSE ACV opened at $24.20 on Friday. Virtus Diversified Income & Convertible Fund has a 12 month low of $17.00 and a 12 month high of $24.53. The stock has a 50-day moving average price of $23.27 and a two-hundred day moving average price of $21.89.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a c) annualized dividend and a dividend yield of 8.9%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Virtus Diversified Income & Convertible Fund by 3.0% in the second quarter. Bank of America Corp DE now owns 94,758 shares of the consumer goods maker’s stock valued at $2,169,000 after buying an additional 2,775 shares during the period. Royal Bank of Canada increased its stake in shares of Virtus Diversified Income & Convertible Fund by 18.4% in the first quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock valued at $1,310,000 after buying an additional 10,200 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of Virtus Diversified Income & Convertible Fund in the second quarter valued at approximately $27,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Virtus Diversified Income & Convertible Fund in the second quarter valued at approximately $560,000. Finally, Guggenheim Capital LLC increased its stake in shares of Virtus Diversified Income & Convertible Fund by 17.9% in the second quarter. Guggenheim Capital LLC now owns 289,591 shares of the consumer goods maker’s stock valued at $6,629,000 after buying an additional 43,866 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.