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

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

Virtus Diversified Income & Convertible Fund Price Performance

Shares of ACV traded up $0.06 during mid-day trading on Wednesday, hitting $22.49. The company had a trading volume of 25,737 shares, 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 business’s 50-day simple moving average is $21.47 and its 200-day simple moving average is $21.22.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend 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 130.91%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at $51,000. Raleigh Capital Management Inc. grew its stake in shares of Virtus Diversified Income & Convertible Fund by 23.5% in the third quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock valued at $72,000 after buying an additional 637 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 42.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock valued at $268,000 after buying an additional 3,745 shares during the period. World Equity Group Inc. purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the third quarter valued at approximately $313,000. Finally, Shaker Financial Services LLC acquired a new position in Virtus Diversified Income & Convertible Fund in the 2nd quarter worth $454,000.

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.