Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Down 46.8% in April

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 17,917 shares, a decline of 46.8% from the March 31st total of 33,651 shares. Based on an average daily trading volume, of 53,817 shares, the short-interest ratio is presently 0.3 days.

Virtus Diversified Income & Convertible Fund Stock Performance

NYSE ACV traded up $0.16 on Wednesday, reaching $26.35. 14,529 shares of the company were exchanged, compared to its average volume of 28,753. Virtus Diversified Income & Convertible Fund has a fifty-two week low of $19.77 and a fifty-two week high of $29.04. The business’s fifty day moving average price is $25.87 and its 200 day moving average price is $26.12.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 11th will be paid a $0.18 dividend. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend is Monday, May 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is 164.85%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several large investors have recently modified their holdings of ACV. Royal Bank of Canada lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 18.4% in the 1st quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock valued at $1,310,000 after purchasing an additional 10,200 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 3.0% in the 2nd quarter. Bank of America Corp DE now owns 94,758 shares of the consumer goods maker’s stock valued at $2,169,000 after purchasing an additional 2,775 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at $27,000. Farther Finance Advisors LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund in the 3rd quarter valued at $48,000. Finally, World Investment Advisors acquired a new position in Virtus Diversified Income & Convertible Fund during the 3rd quarter worth about $228,000.

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.