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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 9,000 shares, a decrease of 64.0% from the January 31st total of 25,000 shares. Based on an average daily volume of 27,900 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates raised its stake in 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 buying an additional 6,441 shares during the period. International Assets Investment Management LLC raised its stake in Virtus Diversified Income & Convertible Fund by 2,101.5% in the 3rd quarter. International Assets Investment Management LLC now owns 52,947 shares of the consumer goods maker’s stock valued at $1,136,000 after acquiring an additional 50,542 shares during the period. World Equity Group Inc. bought a new stake in Virtus Diversified Income & Convertible Fund in the 3rd quarter valued at $313,000. Shaker Financial Services LLC lifted its holdings in Virtus Diversified Income & Convertible Fund by 137.6% during the 3rd quarter. Shaker Financial Services LLC now owns 50,876 shares of the consumer goods maker’s stock valued at $1,092,000 after purchasing an additional 29,467 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its position in Virtus Diversified Income & Convertible Fund by 275.9% during the third quarter. Wolverine Asset Management LLC now owns 121,373 shares of the consumer goods maker’s stock worth $2,605,000 after purchasing an additional 89,088 shares during the period.

Virtus Diversified Income & Convertible Fund Price Performance

ACV traded down $0.03 during trading on Friday, reaching $21.45. 25,605 shares of the stock were exchanged, compared to its average volume of 30,879. The stock’s 50 day moving average price is $22.42 and its two-hundred day moving average price is $21.87. Virtus Diversified Income & Convertible Fund has a twelve month low of $19.57 and a twelve month high of $24.50.

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.