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

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

Virtus Diversified Income & Convertible Fund Price Performance

Virtus Diversified Income & Convertible Fund stock opened at $22.28 on Tuesday. The firm has a fifty day moving average of $23.07 and a 200-day moving average of $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 Dividend Announcement

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

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. boosted its stake in shares of Virtus Diversified Income & Convertible Fund by 8.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 23,559 shares of the consumer goods maker’s stock valued at $444,000 after purchasing an additional 1,859 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new position in Virtus Diversified Income & Convertible Fund in the 4th quarter valued at about $526,000. Hennion & Walsh Asset Management Inc. grew its stake 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 valued at $610,000 after acquiring an additional 6,291 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Virtus Diversified Income & Convertible Fund by 2,058.9% during the fourth quarter. International Assets Investment Management LLC now owns 47,669 shares of the consumer goods maker’s stock valued at $1,000,000 after acquiring an additional 45,461 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Virtus Diversified Income & Convertible Fund by 5.3% during the third quarter. Raymond James & Associates now owns 94,224 shares of the consumer goods maker’s stock worth $1,758,000 after acquiring an additional 4,722 shares during the last quarter.

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.