Virtus Global Multi-Sector Income Fund (NYSE:VGI) Stock Short Interest Declines 58.0%

Virtus Global Multi-Sector Income Fund (NYSE:VGI) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 15,819 shares, a drop of 58.0% from the September 30th total of 37,670 shares. Based on an average daily volume of 45,724 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VGI. CoreCap Advisors LLC boosted its holdings in shares of Virtus Global Multi-Sector Income Fund by 11.5% during the third quarter. CoreCap Advisors LLC now owns 193,338 shares of the company’s stock worth $1,305,000 after acquiring an additional 19,910 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Virtus Global Multi-Sector Income Fund by 106.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 123,258 shares of the company’s stock worth $924,000 after purchasing an additional 63,666 shares during the period. Stephens Inc. AR increased its stake in shares of Virtus Global Multi-Sector Income Fund by 11.4% during the first quarter. Stephens Inc. AR now owns 75,159 shares of the company’s stock worth $555,000 after purchasing an additional 7,670 shares during the period. Total Wealth Planning & Management Inc. lifted its holdings in Virtus Global Multi-Sector Income Fund by 11.9% during the 3rd quarter. Total Wealth Planning & Management Inc. now owns 52,513 shares of the company’s stock worth $354,000 after purchasing an additional 5,577 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in Virtus Global Multi-Sector Income Fund by 24.8% during the 1st quarter. Kestra Advisory Services LLC now owns 40,577 shares of the company’s stock worth $299,000 after purchasing an additional 8,054 shares during the last quarter.

Virtus Global Multi-Sector Income Fund Stock Down 0.2%

VGI stock opened at $6.71 on Friday. The company has a fifty day moving average price of $6.91 and a two-hundred day moving average price of $7.38. Virtus Global Multi-Sector Income Fund has a one year low of $6.48 and a one year high of $8.04.

Virtus Global Multi-Sector Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.3%. The ex-dividend date is Thursday, November 12th.

About Virtus Global Multi-Sector Income Fund

Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a closed-end investment company focused on generating current income through a diversified portfolio of global fixed-income investments. The fund invests across multiple sectors of the bond market rather than concentrating on a single type of issuer or security.

Its portfolio may include corporate bonds, government and sovereign debt, emerging-market securities, structured and securitized investments, and other income-producing fixed-income instruments.