Welcome to our dedicated page for Virtus Diversified Income & Convertible Fund news (Ticker: ACV), a resource for investors and traders seeking the latest updates and insights on Virtus Diversified Income & Convertible Fund stock.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) is a diversified, closed-end management investment company. The Fund's investment objective is to provide total return through a combination of current income and capital appreciation while seeking to offer downside protection against capital loss.
To achieve its investment objectives, ACV dynamically allocates assets across convertible securities, debt, income-producing instruments, and equity securities. Typically, the Fund invests at least 50% of its total managed assets in convertible securities and may write covered call options on its equity holdings. This strategic mix aims to balance income generation and growth potential, offering a diversified approach to asset management.
The Fund has a limited term and is set to terminate on the first business day following the 15th anniversary of the effective date of its registration statement, May 22, 2030. However, the Fund’s Board of Trustees may extend the Fund's term by up to 12 months if needed.
Virtus Investment Advisers, Inc. acts as the investment adviser, and Voya Investment Management serves as the subadviser. Through this collaboration, the Fund leverages the expertise and resources of both firms to manage its diversified portfolio effectively.
Recent Developments and Financial Performance
The Fund has consistently maintained a monthly distribution of $0.18 per share under its Managed Distribution Plan. This plan aims to provide a stable distribution level, which may include net investment income, realized capital gains, or a return of capital. For instance, in the fiscal year that started on February 1, 2023, the Fund has occasionally distributed more than its income and capital gains, leading to a return of capital distribution. It is important to note that such distributions do not necessarily reflect the Fund’s investment performance and should not be confused with yield or income.
As of the most recent performance data:
- Average Annual Total Return on NAV for the 5-year period: 11.81%
- Annualized Current Distribution Rate: 10.36%
- Fiscal YTD Cumulative Total Return on NAV: 9.26%
- Fiscal YTD Cumulative Distribution Rate: 10.36%
For more information on the Fund’s performance, distribution rates, and risks, shareholders can access detailed reports and documentation on the Virtus website or contact shareholder services.
For shareholder services, please contact (866) 270-7788 or email closedendfunds@virtus.com. More information is also available in the Closed-End Funds section of virtus.com.
Fund Risks
An investment in the Fund carries various risks, including the potential loss of principal. Shares of closed-end funds may trade at a premium or discount to their NAV. Investors should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. Detailed information is available in the Fund's annual report, which can be obtained free of charge by contacting shareholder services.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced monthly distributions of $0.18 per share for December 2024 through March 2025. The Fund's distribution analysis reveals that 100% of the current monthly distribution comes from Net Realized Short-Term Capital Gains, while the fiscal year-to-date distributions comprise 10% from Short-Term Capital Gains and 90% from Return of Capital. The Fund's performance metrics show an average annual total return on NAV of 11.95% for the 5-year period, with a current annualized distribution rate of 9.85%. The fiscal YTD cumulative total return on NAV stands at 13.36%, with a cumulative distribution rate of 7.39%.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on October 30, 2024. The Fund's distribution analysis reveals that 100% of the current distribution ($0.180) represents a return of capital. The Fund's performance metrics show a 12.57% average annual total return on NAV for the 5-year period, with a 9.73% annualized current distribution rate. The fiscal YTD cumulative total return on NAV stands at 13.78%, while the fiscal YTD cumulative distribution rate is 6.49%.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on September 26, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution is estimated to be 100% return of capital, as the fund has distributed more than its income and capital gains.
Key performance metrics for ACV include:
- 5-year Average Annual Total Return on NAV: 11.89%
- Annualized Current Distribution Rate: 9.85%
- Fiscal YTD Cumulative Total Return on NAV: 11.47%
- Fiscal YTD Cumulative Distribution Rate: 5.75%
Shareholders are advised that this distribution may not reflect the fund's actual investment performance and should not be confused with 'yield' or 'income'.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced monthly distributions of $0.18 per share for September, October, and November 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution is estimated to be 100% return of capital, as the fund has distributed more than its income and capital gains.
Key performance metrics as of July 31, 2024:
- 5-year Average Annual Total Return on NAV: 11.05%
- Annualized Current Distribution Rate: 10.00%
- Fiscal YTD Cumulative Total Return on NAV: 8.96%
- Fiscal YTD Cumulative Distribution Rate: 5.00%
Investors should note that return of capital distributions do not reflect the fund's investment performance and should not be confused with 'yield' or 'income'.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on August 29, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution is estimated to be 100% return of capital, as the fund has distributed more than its income and capital gains. This doesn't necessarily reflect the fund's investment performance.
Key performance metrics as of July 31, 2024:
- 5-year Average Annual Total Return on NAV: 11.05%
- Annualized Current Distribution Rate: 10.00%
- Fiscal YTD Cumulative Total Return on NAV: 8.96%
- Fiscal YTD Cumulative Distribution Rate: 5.00%
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of $0.18 per share, payable on July 30, 2024. The fund operates under a Managed Distribution Plan, aiming to maintain consistent distribution levels. However, the current distribution is estimated to be 100% return of capital, as the fund has distributed more than its income and capital gains.
Key performance metrics for ACV include:
- 5-year Average Annual Total Return on NAV: 11.31%
- Annualized Current Distribution Rate: 9.97%
- Fiscal YTD Cumulative Total Return on NAV: 8.32%
- Fiscal YTD Cumulative Distribution Rate: 4.16%
Virtus Diversified Income & Convertible Fund (NYSE: ACV) disclosed its Section 19(a) Notice, announcing a monthly distribution of $0.18 per share, payable on June 27, 2024. The fund follows a Managed Distribution Plan to maintain consistent payout levels, derived from net investment income and realized capital gains. If these are insufficient, the difference is made up from the fund's assets, constituting a return of capital. For June 2024, the entire distribution is estimated to be a return of capital. Performance metrics include a 12.33% average annual total return on NAV over five years and a 10.16% annualized current distribution rate. Fiscal YTD cumulative total return on NAV stands at 5.44%, with a fiscal YTD cumulative distribution rate of 3.39%. These figures are based on NAV and not market price and are not intended for tax reporting purposes.
The Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced monthly distributions of $0.18 per share for July and August 2024.
The payment dates are July 30 and August 29, 2024, respectively.
Under its Managed Distribution Plan, the fund aims to maintain a consistent distribution level, potentially funded by net investment income, realized capital gains, or the fund's assets.
The fund estimated that recent distributions were sourced entirely from the return of capital.
As of May 31, 2024, the fund's average annual total return on NAV for five years was 12.33%, with an annualized current distribution rate of 10.16% and year-to-date cumulative total return of 5.44%.
The Virtus Diversified Income & Convertible Fund (NYSE: ACV) disclosed its monthly distribution for March 2024, amounting to $0.18 per share, payable on May 30, 2024. This distribution is part of the Managed Distribution Plan, which ensures consistent payouts. However, if net investment income and realized capital gains fall short, distributions may include a return of shareholder capital. For May 2024, the entire distribution is a return of capital. Performance data shows an average annual total return on NAV of 10.44% over five years, with a fiscal YTD cumulative total return of 2.39% and a distribution rate of 2.59%. Shareholders are advised that these estimates are not for tax reporting purposes and actual tax data will be provided via Form 1099-DIV.
FAQ
What is the current stock price of Virtus Diversified Income & Convertible Fund (ACV)?
What is the market cap of Virtus Diversified Income & Convertible Fund (ACV)?
What is the primary objective of the Virtus Diversified Income & Convertible Fund?
What types of investments does the Fund typically include in its portfolio?
How often does the Fund distribute dividends?
What does a return of capital distribution mean?
Who are the investment adviser and subadviser for the Fund?
What is the Fund’s limited term and expiration date?
What are the recent performance metrics for the Fund?
How can shareholders get more information about the Fund?
What are the risks associated with investing in the Fund?
What is the Managed Distribution Plan?
