Short Interest in Virtus Diversified Income & Convertible Fund (NYSE:ACV) Increases By 1,940.0%

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 10,200 shares, a growth of 1,940.0% from the October 31st total of 500 shares. Based on an average trading volume of 32,500 shares, the days-to-cover ratio is presently 0.3 days.

Virtus Diversified Income & Convertible Fund Stock Performance

NYSE ACV opened at $22.51 on Thursday. Virtus Diversified Income & Convertible Fund has a 1 year low of $19.04 and a 1 year high of $24.50. The company has a fifty day moving average of $21.47 and a two-hundred day moving average of $21.22.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $0.18 dividend. The ex-dividend date is Thursday, March 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.60%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 130.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC boosted its holdings in shares of Virtus Diversified Income & Convertible Fund by 275.9% in the third quarter. Wolverine Asset Management LLC now owns 121,373 shares of the consumer goods maker’s stock valued at $2,605,000 after acquiring an additional 89,088 shares during the period. International Assets Investment Management LLC raised its position in Virtus Diversified Income & Convertible Fund by 2,101.5% in the 3rd quarter. International Assets Investment Management LLC now owns 52,947 shares of the consumer goods maker’s stock valued at $1,136,000 after purchasing an additional 50,542 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in Virtus Diversified Income & Convertible Fund by 212.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 44,357 shares of the consumer goods maker’s stock worth $952,000 after purchasing an additional 30,169 shares during the period. Shaker Financial Services LLC boosted its stake in Virtus Diversified Income & Convertible Fund by 137.6% during the 3rd quarter. Shaker Financial Services LLC now owns 50,876 shares of the consumer goods maker’s stock worth $1,092,000 after purchasing an additional 29,467 shares during the period. Finally, World Equity Group Inc. purchased a new position in Virtus Diversified Income & Convertible Fund during the 3rd quarter worth $313,000.

Virtus Diversified Income & Convertible Fund Company Profile

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.