Virtus Diversified Income & Convertible Fund (NYSE:ACV) Sees Large Growth in Short Interest

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a significant growth in short interest in the month of 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 daily volume of 32,500 shares, the short-interest ratio is presently 0.3 days.

Virtus Diversified Income & Convertible Fund Stock Up 0.3 %

Shares of Virtus Diversified Income & Convertible Fund stock traded up $0.06 on Wednesday, reaching $22.49. 25,737 shares of the company were exchanged, compared to its average volume of 32,690. Virtus Diversified Income & Convertible Fund has a 1-year low of $19.04 and a 1-year high of $24.50. The company’s 50-day moving average is $21.47 and its two-hundred day moving average is $21.22.

Virtus Diversified Income & Convertible Fund Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACV. Raleigh Capital Management Inc. raised its stake in shares of Virtus Diversified Income & Convertible Fund by 23.5% during the third quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock valued at $72,000 after purchasing an additional 637 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Virtus Diversified Income & Convertible Fund by 7.9% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 25,423 shares of the consumer goods maker’s stock valued at $539,000 after buying an additional 1,864 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Virtus Diversified Income & Convertible Fund during the 2nd quarter worth about $51,000. Commonwealth Equity Services LLC lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 42.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock worth $268,000 after acquiring an additional 3,745 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Virtus Diversified Income & Convertible Fund by 5.0% in the third quarter. Raymond James & Associates now owns 136,344 shares of the consumer goods maker’s stock valued at $2,926,000 after acquiring an additional 6,441 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.