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.
The Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of
The Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution of
Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced monthly distributions of $0.18 per share for April, May, and June 2023. The ex-dates for these distributions are April 12, May 10, and June 9, with payable dates on May 1, June 1, and July 3, respectively. The fund operates under a Managed Distribution Plan, which may involve returning capital to shareholders if net investment income falls short of distribution levels. It is reported that approximately 89.4% of the distributions may be a return of capital, potentially indicating that the fund has distributed more than its income and capital gains.
The Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 per share, with the ex-date on February 10, 2023, record date on February 13, 2023, and payable date on March 1, 2023. Under its Managed Distribution Plan, the fund may distribute from net investment income and realized capital gains; however, if these are insufficient, distributions may come from assets, constituting a return of capital. For February 2023, the distribution sources estimate shows 89.4% as a return of capital. The fund's 5-year average annual total return is 10.01%, while fiscal YTD cumulative total return is -13.49%.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 per share, payable on February 1, 2023. Shareholders should note that this distribution could partly involve a return of capital if the fund's net investment income and realized capital gains fall short. The distribution is composed of various components, with 72.8% sourced from net realized long-term capital gains, and 27.2% as return of capital. The fund's current annualized distribution rate stands at 10.87%, but its fiscal year-to-date cumulative total return on NAV has decreased by -19.66%.
The Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a special year-end distribution of $0.196 per share, effective January 10, 2023. The distribution is supplementary to the regular monthly payments and fulfills federal tax obligations. Key dates include an ex-date of December 29, 2022, and a record date of December 30, 2022. Sources of the distribution include net realized long-term capital gains. The fund reported a 10.93% average annual total return over five years, but a -14.93% cumulative total return year-to-date.
FAQ
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