Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Update
by Scott Moore · The Cerbat GemVirtus Diversified Income & Convertible Fund (NYSE:ACV – Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 33,651 shares, a decrease of 17.7% from the March 15th total of 40,871 shares. Based on an average daily volume of 25,958 shares, the days-to-cover ratio is currently 1.3 days.
Virtus Diversified Income & Convertible Fund Price Performance
Shares of Virtus Diversified Income & Convertible Fund stock traded up $0.12 during trading on Thursday, hitting $25.60. 23,792 shares of the stock traded hands, compared to its average volume of 29,471. The firm’s fifty day moving average is $26.06 and its 200-day moving average is $26.00. Virtus Diversified Income & Convertible Fund has a 52 week low of $18.50 and a 52 week high of $29.04.
Virtus Diversified Income & Convertible Fund Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 11th will be given a dividend of $0.18 per share. This represents a c) annualized dividend and a yield of 8.4%. The ex-dividend date is Monday, May 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 164.85%.
Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund
Several institutional investors and hedge funds have recently bought and sold shares of ACV. Newbridge Financial Services Group Inc. bought a new position in Virtus Diversified Income & Convertible Fund during the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC bought a new position in Virtus Diversified Income & Convertible Fund during the 3rd quarter worth approximately $48,000. International Assets Investment Management LLC bought a new position in Virtus Diversified Income & Convertible Fund during the 4th quarter worth approximately $73,000. Kestra Advisory Services LLC bought a new position in Virtus Diversified Income & Convertible Fund during the 4th quarter worth approximately $144,000. Finally, Cornerstone Advisors LLC bought a new position in Virtus Diversified Income & Convertible Fund during the 3rd quarter worth approximately $178,000.
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.