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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 10,300 shares, a decrease of 33.1% from the February 28th total of 15,400 shares. Based on an average daily volume of 28,600 shares, the days-to-cover ratio is currently 0.4 days.

Virtus Diversified Income & Convertible Fund Trading Down 2.7 %

Shares of ACV traded down $0.55 during mid-day trading on Friday, reaching $19.83. 45,926 shares of the company’s stock were exchanged, compared to its average volume of 30,503. Virtus Diversified Income & Convertible Fund has a 52-week low of $19.57 and a 52-week high of $24.50. The company has a 50-day simple moving average of $21.72 and a two-hundred day simple moving average of $21.79.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Friday, April 11th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, April 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is 130.91%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

A number of large investors have recently made changes to their positions in the stock. Westside Investment Management Inc. purchased a new position in Virtus Diversified Income & Convertible Fund in the 4th quarter valued at about $41,000. World Equity Group Inc. lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 273.5% during the fourth quarter. World Equity Group Inc. now owns 54,501 shares of the consumer goods maker’s stock valued at $1,196,000 after buying an additional 39,909 shares during the period. Wolverine Asset Management LLC lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 12.0% during the fourth quarter. Wolverine Asset Management LLC now owns 135,942 shares of the consumer goods maker’s stock valued at $2,984,000 after buying an additional 14,569 shares during the period. Raymond James Financial Inc. acquired a new stake in Virtus Diversified Income & Convertible Fund during the fourth quarter worth approximately $3,151,000. Finally, Guggenheim Capital LLC grew its stake in Virtus Diversified Income & Convertible Fund by 13.7% in the 4th quarter. Guggenheim Capital LLC now owns 245,793 shares of the consumer goods maker’s stock worth $5,395,000 after acquiring an additional 29,659 shares during the period.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund is a closed-ended balanced mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.