Virtus Diversified Income & Convertible Fund reports recurring fund developments tied to distributions, Section 19(a) notices, NAV-based performance figures and capital-structure actions. ACV is a diversified, limited-term closed-end fund seeking total return through current income and capital appreciation, with a portfolio allocation across convertibles, equities and income-producing securities.
The fund normally invests at least 50% of total managed assets in convertibles and may write covered call options on stocks held in its equity allocation. News also identifies Virtus Investment Advisers, LLC as investment adviser, Voya Investment Management as subadviser, and fund actions involving common-share distributions and preferred-share redemption activity.
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.
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