Welcome to our dedicated page for Virtus Investmen news (Ticker: VRTS), a resource for investors and traders seeking the latest updates and insights on Virtus Investmen stock.
Virtus Investment Partners, Inc. reports developments for a multi-boutique asset management business serving individual and institutional clients. News commonly covers assets under management, sales and net flows across open-end funds, closed-end funds, retail separate accounts and institutional accounts, as well as asset-class trends in equity, fixed income, multi-asset and alternatives strategies.
The company also announces product activity through Virtus ETF Solutions, including actively managed exchange-traded funds managed by affiliated or selected investment managers such as Silvant Capital Management and Duff & Phelps Investment Management. Related updates include earnings releases, non-GAAP performance measures, closed-end fund distribution notices, and investment strategies offered through Virtus-affiliated advisers and subadvisers.
Virtus Convertible & Income Fund (NYSE: NCV) has declared a quarterly cash distribution of $0.3515625 per share for its Series A Cumulative Preferred Shares. The distribution will be paid on March 31, 2025 to shareholders of record as of March 17, 2025.
The Series A Preferred Shares, trading under symbol NCV PR A, are rated 'A' by Fitch Ratings and carry an annual dividend rate of $1.40625 per share. Originally issued on September 20, 2018, the 4,000,000 preferred shares were priced at $25.00 per share. The current distribution covers the period from January 1, 2025, through March 31, 2025. The shares are currently callable at the liquidation value of $25.00 per share plus accrued dividends.
Virtus Convertible & Income Fund II (NYSE: NCZ) has declared a quarterly cash distribution of $0.34375 per share for its Series A cumulative preferred shareholders. The distribution will be paid on March 31, 2025 to shareholders of record as of March 17, 2025.
The Series A Cumulative Preferred Shares, trading under symbol NCZ PR A, carry an 'A' rating from Fitch Ratings and feature an annual dividend rate of $1.375 per share. Initially issued on September 11, 2018, the 4,360,000 shares were priced at $25.00 per share. The current distribution covers the period from January 1, 2025, through March 31, 2025. The shares are currently callable at their liquidation value of $25.00 per share plus accrued dividends.
Virtus Diversified Income & Convertible Fund (NYSE: ACV) has released important information regarding its monthly distribution under its Managed Distribution Plan. The Fund aims to maintain consistent distribution levels that may be sourced from net investment income, realized capital gains, or a combination thereof.
The Fund disclosed that it has distributed more than its income and capital gains, indicating that a portion of the distribution may constitute a return of capital to shareholders. This means some of the money investors put into the Fund is being paid back to them. The Fund emphasizes that distribution amounts and sources are estimates, and final tax reporting details will be provided via Form 1099-DIV.
Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has disclosed information about its monthly distribution under its Managed Distribution Plan. The fund aims to maintain consistent distribution levels that may be sourced from net investment income, realized capital gains, or a combination of both.
Shareholders are advised that if the Fund's aggregate net investment income and realized capital gains are less than the distribution amount, the difference will be distributed from Fund assets and constitute a return of shareholder capital. The Fund emphasizes that distribution estimates are provided for informational purposes only and should not be used to draw conclusions about investment performance.
Final tax reporting will be provided via Form 1099-DIV, as actual distribution sources may vary based on the Fund's fiscal year investment experience and tax regulations.
Virtus Total Return Fund (NYSE: ZTR) has disclosed information regarding its monthly distribution under its Managed Distribution Plan. The fund aims to maintain consistent distribution levels that may be sourced from net investment income and realized capital gains.
The fund has indicated that it has distributed more than its income and capital gains, meaning a portion of the distribution likely represents a return of capital to shareholders. This occurs when investors receive back part of their original investment, which should not be confused with yield or income.
The fund emphasizes that distribution estimates are preliminary, and actual tax reporting amounts will depend on the fund's remaining fiscal year performance. Shareholders will receive Form 1099-DIV for official tax reporting purposes.
Virtus Investment Partners (NYSE: VRTS) has announced a quarterly cash dividend declaration of $2.25 per common share for the first quarter of 2025. The dividend will be distributed on May 14, 2025 to shareholders recorded as of April 30, 2025. The multi-boutique asset management company's future dividend declarations will require Board of Directors approval.
Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) has announced a new share repurchase program authorized by its Board of Trustees. The program allows for the repurchase of up to 5% of outstanding common shares (based on shares outstanding as of February 13, 2025) through open market transactions when trading at a discount to net asset value (NAV).
The initiative aims to enhance shareholder value, as repurchases made at a discount may increase the NAV per share of remaining shares. The Fund views these repurchases as potential attractive investment opportunities. Repurchase activities will be disclosed in annual and semi-annual shareholder reports. The program's implementation will depend on price, market conditions, and business conditions, subject to federal securities laws and exchange requirements.
Virtus Investment Partners (NYSE: VRTS) reported preliminary assets under management (AUM) of $177.0 billion and other fee earning assets of $2.2 billion, totaling $179.2 billion in client assets as of January 31, 2025.
The company experienced an increase in AUM from December 31, 2024, driven by market performance and positive net flows in exchange-traded funds and global funds. However, this was partially offset by net outflows in institutional accounts, U.S retail mutual funds, and retail separate accounts.
By product type, Open-End Funds reached $56.97B, Closed-End Funds $10.38B, Retail Separate Accounts $50.22B, and Institutional Accounts $59.41B. Asset class distribution showed Equity at $102.25B, Fixed Income $37.68B, Multi-Asset $21.52B, and Alternatives $15.54B.
Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) announced its monthly distribution of $0.07 per share, payable on February 10, 2025, to shareholders of record on January 31, 2025. Under its Managed Distribution Plan, the January 2025 distribution consists of 32% from net realized short-term capital gains ($0.022) and 68% from net realized long-term capital gains ($0.048).
For the fiscal year-to-date, which started November 1, 2024, distributions include 17.6% from net investment income, 38.3% from short-term capital gains, and 44.1% from long-term capital gains. The fund's 5-year average annual total return on NAV is 4.81%, with a current annualized distribution rate of 6.62% of NAV. The cumulative total return on NAV for the fiscal year stands at 0.16%.
Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) have announced a 1-for-4 reverse stock split effective February 10, 2025. The splits, approved by each Fund's board, aim to enhance shareholder value by increasing the per-share market price.
Post-split, shareholders will maintain their same percentage ownership, with one new share issued for every four existing shares. Cash payments will be made for fractional shares, except for participants in the Automatic Dividend Reinvestment Plan. The funds will retain their trading symbols but receive new CUSIP numbers.
Following the split, monthly distributions will be proportionally adjusted. NCV will distribute $0.136 per share on February 27 and March 28, 2025, while NCZ will distribute $0.120 per share on the same dates. The reverse splits aim to broaden the investor base and reduce per-share transaction fees and administrative costs.