Short Interest in Virtus Diversified Income & Convertible Fund (NYSE:ACV) Increases By 177.8%

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 25,000 shares, a growth of 177.8% from the January 15th total of 9,000 shares. Based on an average daily volume of 29,000 shares, the short-interest ratio is presently 0.9 days.

Virtus Diversified Income & Convertible Fund Trading Down 0.4 %

ACV stock traded down $0.10 during trading on Wednesday, hitting $22.80. The company had a trading volume of 21,625 shares, compared to its average volume of 25,437. The company has a 50 day simple moving average of $22.54 and a 200-day simple moving average of $21.73. 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 Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, March 13th. This represents a $2.16 dividend on an annualized basis and a yield of 9.48%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. LPL Financial LLC increased its position in Virtus Diversified Income & Convertible Fund by 1.4% during 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Virtus Diversified Income & Convertible Fund in the 4th quarter valued at approximately $3,151,000. World Equity Group Inc. raised its position in shares of 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 purchasing an additional 39,909 shares during the last quarter. Wolverine Asset Management LLC boosted its stake in Virtus Diversified Income & Convertible Fund by 12.0% in the 4th quarter. Wolverine Asset Management LLC now owns 135,942 shares of the consumer goods maker’s stock worth $2,984,000 after purchasing an additional 14,569 shares in the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in Virtus Diversified Income & Convertible Fund during the 4th quarter worth approximately $41,000.

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.