Virtus Diversified Income & Convertible Fund (NYSE:ACV) Declares $0.18 Monthly Dividend

Virtus Diversified Income & Convertible Fund (NYSE:ACV – Get Rating) announced a monthly dividend on Friday, May 26th, Wall Street Journal reports. Stockholders of record on Friday, August 11th will be paid a dividend of 0.18 per share by the consumer goods maker on Friday, September 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 11.72%. The ex-dividend date is Thursday, August 10th.

Virtus Diversified Income & Convertible Fund has increased its dividend payment by an average of 10.5% annually over the last three years and has raised its dividend annually for the last 1 consecutive years.

Virtus Diversified Income & Convertible Fund Price Performance

Shares of NYSE ACV traded up $0.19 during trading on Friday, reaching $18.43. The stock had a trading volume of 36,459 shares, compared to its average volume of 41,557. Virtus Diversified Income & Convertible Fund has a one year low of $17.43 and a one year high of $24.21. The firm’s 50 day moving average price is $19.06 and its two-hundred day moving average price is $20.08.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors purchased a new stake in Virtus Diversified Income & Convertible Fund in the 2nd quarter worth about $53,000. D.A. Davidson & CO. lifted its stake in Virtus Diversified Income & Convertible Fund by 12.0% in the 1st quarter. D.A. Davidson & CO. now owns 7,910 shares of the consumer goods maker’s stock worth $201,000 after acquiring an additional 850 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in Virtus Diversified Income & Convertible Fund in the 1st quarter worth about $311,000. B. Riley Wealth Advisors Inc. lifted its stake in Virtus Diversified Income & Convertible Fund by 19.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 19,579 shares of the consumer goods maker’s stock worth $344,000 after acquiring an additional 3,190 shares in the last quarter. Finally, UBS Group AG lifted its stake in Virtus Diversified Income & Convertible Fund by 14.8% in the 2nd quarter. UBS Group AG now owns 20,645 shares of the consumer goods maker’s stock worth $403,000 after acquiring an additional 2,668 shares in the last quarter.

About Virtus Diversified Income & Convertible Fund

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Virtus AllianzGI Diversified Income & Convertible Fund is a closed end investment fund, which objective is to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. The company was founded on May 26, 2015 and is headquartered in New York, NY.