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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 10,300 shares, a drop of 33.1% from the February 28th total of 15,400 shares. Based on an average daily volume of 28,600 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC raised its stake in shares of Virtus Diversified Income & Convertible Fund by 13.7% in the 4th quarter. Guggenheim Capital LLC now owns 245,793 shares of the consumer goods maker’s stock valued at $5,395,000 after purchasing an additional 29,659 shares during the period. Raymond James Financial Inc. bought a new position in shares of Virtus Diversified Income & Convertible Fund during the fourth quarter worth about $3,151,000. LPL Financial LLC raised its position in Virtus Diversified Income & Convertible Fund by 1.4% in the 4th quarter. LPL Financial LLC now owns 279,527 shares of the consumer goods maker’s stock valued at $6,136,000 after buying an additional 3,900 shares during the last quarter. World Equity Group Inc. lifted its stake in Virtus Diversified Income & Convertible Fund by 273.5% in the 4th quarter. World Equity Group Inc. now owns 54,501 shares of the consumer goods maker’s stock valued at $1,196,000 after acquiring an additional 39,909 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its position in Virtus Diversified Income & Convertible Fund by 12.0% during the 4th quarter. Wolverine Asset Management LLC now owns 135,942 shares of the consumer goods maker’s stock worth $2,984,000 after acquiring an additional 14,569 shares during the last quarter.

Virtus Diversified Income & Convertible Fund Trading Down 2.7 %

Shares of NYSE:ACV traded down $0.55 during trading on Friday, hitting $19.83. 45,926 shares of the company’s stock traded hands, compared to its average volume of 30,503. The company has a 50-day moving average price of $21.72 and a 200-day moving average price of $21.80. Virtus Diversified Income & Convertible Fund has a 52 week low of $19.57 and a 52 week high of $24.50.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Friday, April 11th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, April 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is 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.