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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) announced a monthly dividend on Wednesday, June 3rd. Investors of record on Monday, June 15th will be paid a dividend of 0.18 per share by the consumer goods maker on Monday, June 29th. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Monday, June 15th.

Virtus Diversified Income & Convertible Fund Trading Down 1.2%

Shares of ACV opened at $28.09 on Thursday. Virtus Diversified Income & Convertible Fund has a 1-year low of $21.74 and a 1-year high of $29.04. The company has a 50-day moving average of $26.26 and a 200 day moving average of $26.47.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACV. Bank of America Corp DE raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 5.9% in the 1st quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock valued at $2,531,000 after purchasing an additional 5,804 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 6.5% in the 1st quarter. Royal Bank of Canada now owns 73,971 shares of the consumer goods maker’s stock valued at $1,797,000 after purchasing an additional 4,509 shares in the last quarter. World Equity Group Inc. raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 15.2% in the 1st quarter. World Equity Group Inc. now owns 34,392 shares of the consumer goods maker’s stock valued at $836,000 after purchasing an additional 4,525 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 56.5% in the 1st quarter. D.A. Davidson & CO. now owns 14,198 shares of the consumer goods maker’s stock valued at $345,000 after purchasing an additional 5,126 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 7.0% in the 1st quarter. Apollon Wealth Management LLC now owns 25,623 shares of the consumer goods maker’s stock valued at $623,000 after purchasing an additional 1,671 shares in the last quarter.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.