Short Interest in Virtus Global Multi-Sector Income Fund (NYSE:VGI) Decreases By 49.0%

Virtus Global Multi-Sector Income Fund (NYSE:VGI) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 18,100 shares, a drop of 49.0% from the February 28th total of 35,500 shares. Based on an average trading volume of 39,500 shares, the days-to-cover ratio is presently 0.5 days.

Virtus Global Multi-Sector Income Fund Stock Performance

Shares of NYSE VGI traded down $0.02 during mid-day trading on Friday, reaching $7.73. The company had a trading volume of 33,783 shares, compared to its average volume of 37,141. The company has a 50-day moving average price of $7.80 and a two-hundred day moving average price of $7.89. Virtus Global Multi-Sector Income Fund has a 1-year low of $7.18 and a 1-year high of $8.32.

Virtus Global Multi-Sector Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 12.41%. The ex-dividend date of this dividend is Friday, April 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC lifted its position in shares of Virtus Global Multi-Sector Income Fund by 13.7% in the 4th quarter. SeaCrest Wealth Management LLC now owns 48,216 shares of the company’s stock valued at $368,000 after acquiring an additional 5,819 shares in the last quarter. CoreCap Advisors LLC raised its stake in Virtus Global Multi-Sector Income Fund by 8.7% during the 4th quarter. CoreCap Advisors LLC now owns 128,958 shares of the company’s stock valued at $985,000 after purchasing an additional 10,375 shares during the period. Virtu Financial LLC purchased a new stake in shares of Virtus Global Multi-Sector Income Fund in the third quarter valued at $98,000. LPL Financial LLC boosted its position in shares of Virtus Global Multi-Sector Income Fund by 6.9% in the fourth quarter. LPL Financial LLC now owns 198,247 shares of the company’s stock worth $1,515,000 after buying an additional 12,771 shares during the period. Finally, Total Wealth Planning & Management Inc. purchased a new position in shares of Virtus Global Multi-Sector Income Fund during the fourth quarter valued at $108,000.

About Virtus Global Multi-Sector Income Fund

Virtus Global Multi-Sector Income Fund is a closed ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc and Newfleet Asset Management, LLC. It invests in fixed income markets across the globe. The fund invests in both investment grade and high yield debt instruments issued by the government, corporate, bank loans, mortgage-backed securities, asset-backed securities, taxable municipal bonds, and tax-exempt municipal bonds.