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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 10,200 shares, an increase of 1,940.0% from the October 31st total of 500 shares. Based on an average daily volume of 32,500 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Virtus Diversified Income & Convertible Fund during the 2nd quarter valued at $51,000. Raleigh Capital Management Inc. grew its holdings in shares of Virtus Diversified Income & Convertible Fund by 23.5% in the third quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock worth $72,000 after acquiring an additional 637 shares during the period. Commonwealth Equity Services LLC increased its position in Virtus Diversified Income & Convertible Fund by 42.1% during the second quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock valued at $268,000 after acquiring an additional 3,745 shares during the last quarter. World Equity Group Inc. bought a new position in Virtus Diversified Income & Convertible Fund in the third quarter valued at about $313,000. Finally, Shaker Financial Services LLC purchased a new position in Virtus Diversified Income & Convertible Fund in the second quarter worth about $454,000.

Virtus Diversified Income & Convertible Fund Trading Up 0.4 %

NYSE ACV opened at $22.51 on Friday. Virtus Diversified Income & Convertible Fund has a one year low of $19.04 and a one year high of $24.50. The stock has a 50-day moving average of $21.51 and a 200 day moving average of $21.24.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.60%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is presently 130.91%.

About Virtus Diversified Income & Convertible Fund

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.