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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a large 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 days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC increased its holdings in shares of Virtus Diversified Income & Convertible Fund by 79.6% during the third quarter. LPL Financial LLC now owns 377,946 shares of the consumer goods maker’s stock valued at $7,052,000 after acquiring an additional 167,546 shares in the last quarter. International Assets Investment Management LLC grew its position in Virtus Diversified Income & Convertible Fund by 2,058.9% during the 4th quarter. International Assets Investment Management LLC now owns 47,669 shares of the consumer goods maker’s stock valued at $1,000,000 after purchasing an additional 45,461 shares during the last quarter. Cornerstone Advisors LLC increased its stake in Virtus Diversified Income & Convertible Fund by 54.5% during the 3rd quarter. Cornerstone Advisors LLC now owns 96,270 shares of the consumer goods maker’s stock valued at $1,796,000 after purchasing an additional 33,953 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Virtus Diversified Income & Convertible Fund by 5.5% in the fourth quarter. Wells Fargo & Company MN now owns 480,652 shares of the consumer goods maker’s stock worth $10,084,000 after buying an additional 25,116 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Virtus Diversified Income & Convertible Fund in the fourth quarter worth approximately $526,000.

Virtus Diversified Income & Convertible Fund Trading Down 0.4 %

Shares of Virtus Diversified Income & Convertible Fund stock opened at $22.28 on Tuesday. Virtus Diversified Income & Convertible Fund has a 1 year low of $16.82 and a 1 year high of $24.50. The company has a 50-day moving average of $23.07 and a 200 day moving average of $21.21.

Virtus Diversified Income & Convertible Fund Dividend Announcement

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

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.