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

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

Virtus Diversified Income & Convertible Fund Price Performance

NYSE:ACV traded down $0.22 during mid-day trading on Thursday, reaching $28.01. The stock had a trading volume of 15,756 shares, compared to its average volume of 26,468. Virtus Diversified Income & Convertible Fund has a twelve month low of $22.27 and a twelve month high of $29.04. The business has a 50 day simple moving average of $27.36 and a 200 day simple moving average of $26.77.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be issued a dividend of $0.18 per share. This represents a c) dividend on an annualized basis 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 is currently 153.94%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of ACV. Bank of America Corp DE grew its holdings in Virtus Diversified Income & Convertible Fund by 5.9% in the first quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock valued at $2,531,000 after purchasing an additional 5,804 shares during the last quarter. Royal Bank of Canada increased its position in shares of Virtus Diversified Income & Convertible Fund by 6.5% in 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 buying an additional 4,509 shares in the last quarter. World Equity Group Inc. raised its stake 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 worth $836,000 after buying an additional 4,525 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Virtus Diversified Income & Convertible Fund by 56.5% during the 1st quarter. D.A. Davidson & CO. now owns 14,198 shares of the consumer goods maker’s stock worth $345,000 after buying an additional 5,126 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its position in shares of Virtus Diversified Income & Convertible Fund by 7.0% in the 1st quarter. Apollon Wealth Management LLC now owns 25,623 shares of the consumer goods maker’s stock worth $623,000 after buying an additional 1,671 shares in 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.