Virtus Global Multi-Sector Income Fund (NYSE:VGI) Stock Short Interest Jumps 67.8%

Virtus Global Multi-Sector Income Fund (NYSE:VGI) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 45,115 shares, a growth of 67.8% from the August 31st total of 26,890 shares. Based on an average trading volume of 35,575 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Kovack Advisors Inc. grew its stake in shares of Virtus Global Multi-Sector Income Fund by 17.1% during the 2nd quarter. Kovack Advisors Inc. now owns 18,049 shares of the company’s stock worth $135,000 after acquiring an additional 2,638 shares in the last quarter. Total Wealth Planning & Management Inc. lifted its position in shares of Virtus Global Multi-Sector Income Fund by 3.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 46,936 shares of the company’s stock worth $352,000 after purchasing an additional 1,605 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Virtus Global Multi-Sector Income Fund by 106.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 123,258 shares of the company’s stock worth $924,000 after purchasing an additional 63,666 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Virtus Global Multi-Sector Income Fund by 2.1% during the second quarter. CoreCap Advisors LLC now owns 173,428 shares of the company’s stock worth $1,301,000 after purchasing an additional 3,645 shares during the last quarter. Finally, Van Diest Capital LLC grew its position in Virtus Global Multi-Sector Income Fund by 46.4% in the first quarter. Van Diest Capital LLC now owns 18,046 shares of the company’s stock valued at $133,000 after purchasing an additional 5,716 shares in the last quarter.

Virtus Global Multi-Sector Income Fund Price Performance

NYSE VGI traded up $0.03 on Wednesday, reaching $6.75. The company had a trading volume of 30,179 shares, compared to its average volume of 40,940. The company’s fifty day moving average is $7.20 and its 200-day moving average is $7.36. Virtus Global Multi-Sector Income Fund has a 1-year low of $6.66 and a 1-year high of $8.04.

Virtus Global Multi-Sector Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date is Thursday, November 12th.

Virtus Global Multi-Sector Income Fund Company Profile

Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund invests across global fixed-income markets rather than concentrating on a single bond sector or geographic region.

Its portfolio may include corporate bonds, government and sovereign debt, emerging-market securities, mortgage- and asset-backed securities, bank loans, and other income-producing credit instruments.