Virtus Diversified Income & Convertible Fund (NYSE:ACV) Raises Dividend to $0.21 Per Share

Virtus Diversified Income & Convertible Fund (NYSE:ACV) declared a monthly dividend on Wednesday, September 23rd. Stockholders of record on Tuesday, October 13th will be given a dividend of 0.215 per share by the consumer goods maker on Thursday, October 29th. This represents a c) annualized dividend and a dividend yield of 10.3%. The ex-dividend date is Tuesday, October 13th. This is a 19.4% increase from Virtus Diversified Income & Convertible Fund’s previous monthly dividend of $0.18.

Virtus Diversified Income & Convertible Fund Stock Down 1.2%

Shares of Virtus Diversified Income & Convertible Fund stock traded down $0.29 during trading on Thursday, reaching $24.96. 11,861 shares of the company were exchanged, compared to its average volume of 26,645. Virtus Diversified Income & Convertible Fund has a twelve month low of $23.44 and a twelve month high of $29.04. The business has a 50-day moving average price of $26.58 and a 200-day moving average price of $26.66.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at about $276,000. World Equity Group Inc. boosted its stake in Virtus Diversified Income & Convertible Fund by 22.0% during the 2nd quarter. World Equity Group Inc. now owns 41,950 shares of the consumer goods maker’s stock worth $1,189,000 after acquiring an additional 7,558 shares during the last quarter. Bank of America Corp DE boosted its stake in Virtus Diversified Income & Convertible Fund by 5.9% during the 1st quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock worth $2,531,000 after acquiring an additional 5,804 shares during the last quarter. Royal Bank of Canada grew its holdings in Virtus Diversified Income & Convertible Fund by 6.5% during the first quarter. Royal Bank of Canada now owns 73,971 shares of the consumer goods maker’s stock valued at $1,797,000 after purchasing an additional 4,509 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in Virtus Diversified Income & Convertible Fund by 56.5% during the first quarter. D.A. Davidson & CO. now owns 14,198 shares of the consumer goods maker’s stock valued at $345,000 after purchasing an additional 5,126 shares during the period.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus Diversified Income & Convertible Fund (NYSE: ACV) is a publicly traded closed-end fund managed by Virtus Investment Advisers, Inc The fund seeks to provide total return through a combination of current income and capital appreciation.

ACV invests in a diversified portfolio of income-producing securities and convertible securities. Its holdings may include convertible bonds and preferred stocks, as well as common stocks and corporate debt securities, including below-investment-grade bonds.