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.
On December 19, 2022, the Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18, with the ex-dividend date set for December 9, 2022, record date on December 12, 2022, and payment on January 3, 2023. The Fund's Managed Distribution Plan aims to maintain consistent distributions, funded by net investment income and realized capital gains. However, distributions exceeding net income may reduce shareholder capital. The Fund reported a 5-year average annual total return of 10.93% but a year-to-date total return of -14.93%.
Virtus Diversified Income & Convertible Fund (ACV) announced monthly distributions of $0.18 for January, February, and March 2023. The Fund aims to maintain a consistent distribution level under its Managed Distribution Plan, which may involve returning capital to shareholders if net income and capital gains are insufficient. As of October 31, 2022, the average annual total return on NAV for the last five years was 10.58%, while cumulative total return for the fiscal year to date was -17.51%. The Fund primarily invests in convertibles and income-producing securities.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 payable on December 1, 2022. The Ex-Date is November 10, 2022 and the Record Date is November 14, 2022. The fund aims to maintain consistent distributions using net investment income and realized capital gains. However, if these are insufficient, the shortfall will be covered by the fund’s assets, potentially returning capital to shareholders. As of October 31, 2022, the fund's average annual total return on NAV over five years stands at 10.58%.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 on October 12, 2022. The record date is October 13, 2022, with a payable date set for November 1, 2022. Under its Managed Distribution Plan, the fund aims for consistent payouts, which may include returns of capital if net income and capital gains are insufficient. For October 2022, total distributions are sourced from net realized long-term capital gains and no net investment income. The fund's fiscal year-to-date cumulative total return on NAV is -22.51%.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced monthly distributions of $0.18 per share for several upcoming dates, including October 12, November 10, and December 9, 2022. The distributions adhere to a Managed Distribution Plan, which aims to maintain consistent distribution levels that may be paid from net investment income and realized capital gains. Shareholders should be aware that distributions may include return of capital if net investment income and capital gains are insufficient. As of August 31, 2022, the fund's five-year annual return on NAV was 12.29%.
On August 18, 2022, Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 per share, with an ex-date on August 10, record date on August 11, and payable date on September 1. The fund follows a Managed Distribution Plan to maintain consistent levels, potentially funded by net investment income and realized capital gains. However, if these are insufficient, distributions may constitute a return of capital. Current fiscal year-to-date, the fund reports a total distribution of $1.26 and a cumulative total return on NAV of -13.07%.
On July 15, 2022, the Virtus Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 per share, with the ex-date being July 8, 2022, record date on July 11, 2022, and payable date set for August 1, 2022. The Fund aims for consistent distribution levels under its Managed Distribution Plan, potentially using net investment income and realized capital gains. Notably, if the income and gains fall short, the difference will be taken from the Fund's assets, affecting shareholder capital. The current fiscal year-to-date cumulative total return on net asset value is reported at -20.92%.
On June 16, 2022, Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced a monthly distribution of $0.18 per share, set for payment on July 1, 2022, with an ex-date of June 10, 2022, and record date of June 13, 2022. The distribution will be drawn from net investment income, realized capital gains, or Fund assets, potentially leading to a return of capital for shareholders. As of May 31, 2022, the Fund reported a 5-year average annual total return of 13.43% but faced a -12.57% year-to-date cumulative total return.
On June 7, 2022, Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced monthly distributions of $0.18, payable on specified dates in August and September. Under its Managed Distribution Plan, these payments may include net investment income and realized capital gains. If total income and gains are insufficient, distributions will affect shareholders' capital. The Fund reported a 5-year annual total return on NAV of 13.43% and a year-to-date cumulative total return of -12.57%.
On May 16, 2022, Virtus AllianzGI Diversified Income & Convertible Fund (ACV) announced a monthly distribution of $0.18 per share, with an ex-date of May 11, 2022 and payable date of June 1, 2022. The fund aims to maintain a steady distribution level that may draw from net investment income and realized capital gains, posing a risk of capital return if income is insufficient. Performance metrics reveal a 14.21% average annual total return on NAV over five years, but a -9.84% cumulative total return year-to-date.
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