Short Interest in Virtus Diversified Income & Convertible Fund (NYSE:ACV) Declines By 94.6%

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 500 shares, a decrease of 94.6% from the October 15th total of 9,300 shares. Based on an average daily volume of 31,300 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACV. International Assets Investment Management LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund during the 2nd quarter valued at about $51,000. Raleigh Capital Management Inc. lifted its stake 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 valued at $72,000 after purchasing an additional 637 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the first quarter worth about $209,000. Commonwealth Equity Services LLC increased its position in Virtus Diversified Income & Convertible Fund by 42.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock worth $268,000 after purchasing an additional 3,745 shares in the last quarter. Finally, World Equity Group Inc. acquired a new stake in Virtus Diversified Income & Convertible Fund during the 3rd quarter valued at approximately $313,000.

Virtus Diversified Income & Convertible Fund Trading Down 1.6 %

NYSE:ACV traded down $0.36 during trading hours on Tuesday, reaching $22.02. 23,234 shares of the stock were exchanged, compared to its average volume of 32,856. The firm has a 50 day moving average of $21.26 and a 200 day moving average of $21.26. Virtus Diversified Income & Convertible Fund has a twelve month low of $18.34 and a twelve month high of $24.50.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.18 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 10.26%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 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.