Virtus Diversified Income & Convertible Fund (NYSE:ACV) Sees Significant Growth in Short Interest

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a large 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 days-to-cover ratio is presently 0.8 days.

Virtus Diversified Income & Convertible Fund Price Performance

Shares of ACV traded down $0.24 during trading hours on Friday, reaching $23.86. The company’s stock had a trading volume of 52,718 shares, compared to its average volume of 27,973. The company has a 50 day moving average of $25.03 and a two-hundred day 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 Dividend Announcement

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

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrity Advisory Solutions LLC raised its stake in shares of Virtus Diversified Income & Convertible Fund by 50.3% during the 3rd quarter. Integrity Advisory Solutions LLC now owns 10,667 shares of the consumer goods maker’s stock worth $258,000 after purchasing an additional 3,570 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Virtus Diversified Income & Convertible Fund in the second quarter worth approximately $276,000. D.A. Davidson & CO. grew its position in 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 acquiring an additional 1,420 shares in the last quarter. Apollon Wealth Management LLC increased its stake 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 worth $519,000 after purchasing an additional 443 shares during the last quarter. Finally, World Equity Group Inc. increased 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 purchasing an additional 4,525 shares during the last quarter.

Virtus Diversified Income & Convertible Fund Company Profile

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.