Short Interest in Virtus Diversified Income & Convertible Fund (NYSE:ACV) Declines By 21.2%

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 40,871 shares, a decline of 21.2% from the February 26th total of 51,867 shares. Based on an average trading volume of 17,656 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Emissary Wealth LLC bought a new stake in shares of Virtus Diversified Income & Convertible Fund in the fourth quarter valued at approximately $2,090,000. Apollon Wealth Management LLC increased its stake in Virtus Diversified Income & Convertible Fund by 82.8% during the 4th quarter. Apollon Wealth Management LLC now owns 23,952 shares of the consumer goods maker’s stock worth $630,000 after acquiring an additional 10,847 shares during the period. World Equity Group Inc. increased its stake in Virtus Diversified Income & Convertible Fund by 11.7% during the 4th quarter. World Equity Group Inc. now owns 29,867 shares of the consumer goods maker’s stock worth $785,000 after acquiring an additional 3,125 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Virtus Diversified Income & Convertible Fund in the 3rd quarter valued at $281,000. Finally, Cornerstone Advisors LLC bought a new stake in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter valued at $178,000.

Virtus Diversified Income & Convertible Fund Stock Performance

ACV stock opened at $24.21 on Friday. Virtus Diversified Income & Convertible Fund has a 52 week low of $17.00 and a 52 week high of $29.04. The company’s 50-day simple moving average is $26.84 and its 200 day simple moving average is $25.93.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 11th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) dividend on an annualized basis and a yield of 8.9%. Virtus Diversified Income & Convertible Fund’s payout ratio is currently 153.94%.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.