Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Down 37.7% in June

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 18,048 shares, a decrease of 37.7% from the May 31st total of 28,953 shares. Based on an average daily trading volume, of 24,797 shares, the days-to-cover ratio is currently 0.7 days.

Virtus Diversified Income & Convertible Fund Stock Performance

Shares of NYSE:ACV opened at $28.01 on Friday. The company has a fifty day simple moving average of $27.44 and a 200 day simple moving average of $26.80. Virtus Diversified Income & Convertible Fund has a 12-month low of $22.27 and a 12-month high of $29.04.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.18 per share. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Thursday, August 13th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is currently 153.94%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC lifted its position in shares of Virtus Diversified Income & Convertible Fund by 19.7% during the fourth quarter. Guggenheim Capital LLC now owns 361,160 shares of the consumer goods maker’s stock worth $9,495,000 after purchasing an additional 59,335 shares during the last quarter. LPL Financial LLC increased its holdings in Virtus Diversified Income & Convertible Fund by 1.5% in the fourth quarter. LPL Financial LLC now owns 298,852 shares of the consumer goods maker’s stock valued at $7,857,000 after buying an additional 4,349 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Virtus Diversified Income & Convertible Fund by 13.3% in the fourth quarter. Advisors Asset Management Inc. now owns 222,978 shares of the consumer goods maker’s stock valued at $5,862,000 after buying an additional 26,251 shares during the last quarter. Raymond James Financial Inc. raised its stake in Virtus Diversified Income & Convertible Fund by 10.1% during the third quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock valued at $3,425,000 after buying an additional 13,064 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings 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 buying an additional 5,804 shares during the last quarter.

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.