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 February. As of February 28th, there was short interest totalling 15,400 shares, a growth of 71.1% from the February 13th total of 9,000 shares. Based on an average daily trading volume, of 29,200 shares, the days-to-cover ratio is presently 0.5 days.

Virtus Diversified Income & Convertible Fund Stock Up 1.2 %

ACV stock traded up $0.24 during trading on Friday, hitting $20.14. 34,551 shares of the company’s stock traded hands, compared to its average volume of 30,452. Virtus Diversified Income & Convertible Fund has a 52 week low of $19.57 and a 52 week high of $24.50. The stock has a fifty day moving average price of $22.08 and a two-hundred day moving average price of $21.85.

Virtus Diversified Income & Convertible Fund Dividend Announcement

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

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in Virtus Diversified Income & Convertible Fund in the fourth quarter worth approximately $3,151,000. World Equity Group Inc. lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 273.5% in the 4th quarter. World Equity Group Inc. now owns 54,501 shares of the consumer goods maker’s stock valued at $1,196,000 after purchasing an additional 39,909 shares during the last quarter. Landscape Capital Management L.L.C. raised its holdings in Virtus Diversified Income & Convertible Fund by 212.6% in 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 acquiring an additional 30,169 shares during the period. Guggenheim Capital LLC raised its holdings 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. Finally, Wolverine Asset Management LLC raised its holdings in Virtus Diversified Income & Convertible Fund by 12.0% in the 4th quarter. Wolverine Asset Management LLC now owns 135,942 shares of the consumer goods maker’s stock worth $2,984,000 after acquiring an additional 14,569 shares during the period.

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.