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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 22,500 shares, a growth of 275.0% from the August 31st total of 6,000 shares. Based on an average daily volume of 31,600 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 31,600 shares, the days-to-cover ratio is presently 0.7 days.

Virtus Diversified Income & Convertible Fund Stock Down 0.1%

ACV opened at $24.20 on Friday. Virtus Diversified Income & Convertible Fund has a twelve month low of $17.00 and a twelve month high of $24.53. The company has a 50-day simple moving average of $23.27 and a 200 day simple moving average of $21.89.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a c) annualized dividend and a yield of 8.9%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in Virtus Diversified Income & Convertible Fund by 3.0% during the second 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 period. Royal Bank of Canada raised its stake in Virtus Diversified Income & Convertible Fund by 18.4% during the first quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock worth $1,310,000 after acquiring an additional 10,200 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Virtus Diversified Income & Convertible Fund during the second quarter worth about $27,000. B. Riley Wealth Advisors Inc. acquired a new position in Virtus Diversified Income & Convertible Fund during the second quarter worth about $560,000. Finally, Guggenheim Capital LLC raised its stake in Virtus Diversified Income & Convertible Fund by 17.9% during the second quarter. Guggenheim Capital LLC now owns 289,591 shares of the consumer goods maker’s stock worth $6,629,000 after acquiring an additional 43,866 shares in the last quarter.

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.