Virtus Diversified Income & Convertible Fund (NYSE:ACV) Short Interest Down 33.1% in March

Virtus Diversified Income & Convertible Fund (NYSE:ACV) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 10,300 shares, a decline of 33.1% from the February 28th total of 15,400 shares. Based on an average daily trading volume, of 28,600 shares, the days-to-cover ratio is presently 0.4 days.

Virtus Diversified Income & Convertible Fund Stock Performance

Shares of NYSE:ACV traded up $0.08 during mid-day trading on Monday, reaching $19.97. The stock had a trading volume of 74,692 shares, compared to its average volume of 30,679. The firm has a 50 day simple moving average of $21.72 and a two-hundred day simple moving average of $21.80. Virtus Diversified Income & Convertible Fund has a twelve month low of $19.57 and a twelve month high of $24.50.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 29th. Shareholders 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 (DPR) is presently 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westside Investment Management Inc. bought a new position in Virtus Diversified Income & Convertible Fund during the fourth quarter worth about $41,000. World Equity Group Inc. increased its holdings in shares of Virtus Diversified Income & Convertible Fund by 273.5% in the fourth quarter. World Equity Group Inc. now owns 54,501 shares of the consumer goods maker’s stock worth $1,196,000 after acquiring an additional 39,909 shares in the last quarter. Wolverine Asset Management LLC raised its position in shares of Virtus Diversified Income & Convertible Fund by 12.0% during the fourth quarter. Wolverine Asset Management LLC now owns 135,942 shares of the consumer goods maker’s stock worth $2,984,000 after purchasing an additional 14,569 shares during the period. Raymond James Financial Inc. bought a new position in shares of Virtus Diversified Income & Convertible Fund during the 4th quarter valued at about $3,151,000. Finally, Guggenheim Capital LLC grew its position in shares of 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 valued at $5,395,000 after purchasing an additional 29,659 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.