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

Virtus Diversified Income & Convertible Fund Price Performance

NYSE:ACV traded up $0.24 on Friday, reaching $20.14. The stock had a trading volume of 34,551 shares, compared to its average volume of 30,452. Virtus Diversified Income & Convertible Fund has a 1-year low of $19.57 and a 1-year high of $24.50. The stock has a fifty day moving average price of $22.08 and a 200-day moving average price of $21.85.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, April 29th. Investors of record on Friday, April 11th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, April 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Several large investors have recently bought and sold shares of ACV. Westside Investment Management Inc. bought a new stake in shares of Virtus Diversified Income & Convertible Fund during the fourth quarter worth $41,000. Landscape Capital Management L.L.C. boosted its holdings in shares of 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 buying an additional 30,169 shares during the period. World Equity Group Inc. boosted its holdings in shares of Virtus Diversified Income & Convertible Fund by 273.5% during the 4th quarter. World Equity Group Inc. now owns 54,501 shares of the consumer goods maker’s stock worth $1,196,000 after buying an additional 39,909 shares during the period. Wolverine Asset Management LLC boosted its holdings in shares of Virtus Diversified Income & Convertible Fund by 12.0% during the 4th quarter. Wolverine Asset Management LLC now owns 135,942 shares of the consumer goods maker’s stock worth $2,984,000 after buying an additional 14,569 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Virtus Diversified Income & Convertible Fund in the 4th quarter worth about $3,151,000.

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.