Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Down 17.7% in March

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the target of a large decline in short interest in March. As of March 31st, there was short interest totaling 33,651 shares, a decline of 17.7% from the March 15th total of 40,871 shares. Based on an average trading volume of 25,958 shares, the days-to-cover ratio is currently 1.3 days.

Virtus Diversified Income & Convertible Fund Stock Down 0.3%

Shares of NYSE:ACV traded down $0.08 on Friday, reaching $25.52. 42,035 shares of the company’s stock were exchanged, compared to its average volume of 29,642. Virtus Diversified Income & Convertible Fund has a fifty-two week low of $18.50 and a fifty-two week high of $29.04. The business’s 50-day moving average is $26.03 and its two-hundred day moving average is $26.02.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.18 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend is Monday, May 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is 164.85%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Virtus Diversified Income & Convertible Fund by 18.4% in the first quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock valued at $1,310,000 after purchasing an additional 10,200 shares in the last quarter. Bank of America Corp DE lifted its holdings in Virtus Diversified Income & Convertible Fund by 3.0% in the 2nd quarter. Bank of America Corp DE now owns 94,758 shares of the consumer goods maker’s stock worth $2,169,000 after purchasing an additional 2,775 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Virtus Diversified Income & Convertible Fund during the 2nd quarter worth $27,000. B. Riley Wealth Advisors Inc. bought a new stake in Virtus Diversified Income & Convertible Fund during the 2nd quarter valued at approximately $560,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of Virtus Diversified Income & Convertible Fund in the third quarter valued at approximately $405,000.

About Virtus Diversified Income & Convertible Fund

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.