Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Short Interest Jumps 112.6%

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 31,261 shares, a growth of 112.6% from the September 30th total of 14,706 shares. Based on an average trading volume of 40,484 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new stake in Virtus Diversified Income & Convertible Fund during the second quarter valued at about $276,000. Integrity Advisory Solutions LLC increased its position in Virtus Diversified Income & Convertible Fund by 50.3% in the third quarter. Integrity Advisory Solutions LLC now owns 10,667 shares of the consumer goods maker’s stock worth $258,000 after buying an additional 3,570 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Virtus Diversified Income & Convertible Fund by 13.3% in the third quarter. D.A. Davidson & CO. now owns 12,118 shares of the consumer goods maker’s stock worth $293,000 after buying an additional 1,420 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Virtus Diversified Income & Convertible Fund by 2.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 21,484 shares of the consumer goods maker’s stock valued at $519,000 after buying an additional 443 shares in the last quarter. Finally, World Equity Group Inc. lifted its position in shares of Virtus Diversified Income & Convertible Fund by 15.2% during the 1st quarter. World Equity Group Inc. now owns 34,392 shares of the consumer goods maker’s stock valued at $836,000 after buying an additional 4,525 shares in the last quarter.

Virtus Diversified Income & Convertible Fund Trading Down 1.0%

Shares of Virtus Diversified Income & Convertible Fund stock traded down $0.24 on Friday, hitting $23.86. 52,718 shares of the company’s stock were exchanged, compared to its average volume of 27,973. The company has a 50-day simple moving average of $25.03 and a 200-day simple moving average of $26.47. Virtus Diversified Income & Convertible Fund has a 1 year low of $23.33 and a 1 year high of $29.04.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be paid a $0.2150 dividend. This represents a $2.58 annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Thursday, November 12th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is 169.09%.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol ACV. The fund seeks to provide a high level of current income and total return through a diversified portfolio of income-producing securities.

The fund invests primarily in convertible securities, high-yield corporate bonds and dividend-paying common stocks. Convertible securities can offer income while providing the potential to participate in the underlying issuer’s equity performance.