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. (NYSE: VRTS) operates a multi-manager asset management business and regularly issues news and updates related to its investment platform, affiliated managers, and funds. This news page aggregates company announcements, fund notices, and regulatory disclosures that are relevant to investors following VRTS.
Virtus frequently reports on its preliminary assets under management and other fee-earning assets, broken down by product type and asset class. These updates describe trends across open-end funds, closed-end funds, retail separate accounts, institutional accounts, and exchange-traded funds, as well as allocations to equity, fixed income, multi-asset, and alternatives strategies.
News items also cover developments at affiliated and advised closed-end funds, including Duff & Phelps Utility and Infrastructure Fund Inc., DNP Select Income Fund Inc., DTF Tax-Free Income 2028 Term Fund Inc., Virtus Total Return Fund Inc., Virtus Equity & Convertible Income Fund, Virtus Artificial Intelligence & Technology Opportunities Fund, and Virtus Diversified Income & Convertible Fund. These releases often include information on managed distribution plans, special year-end distributions, regular dividends, and Section 19(a) notices that explain the estimated sources of distributions among net investment income, realized capital gains, and return of capital.
Corporate announcements from Virtus may highlight strategic transactions, such as the acquisition of a minority interest in Crescent Cove Advisors, LP, which adds a private markets capability focused on lending to high-growth technology companies. Other disclosures include material definitive agreements, such as the Equity Purchase Agreement to acquire a majority interest in Keystone National Group, LLC, and credit agreements that provide term loans and revolving credit facilities.
By reviewing the news associated with VRTS, investors can monitor updates on assets under management, fund distribution policies, strategic investments in alternative and private markets, and financial and regulatory developments affecting Virtus’ multi-manager asset management platform.
Virtus Stone Harbor Emerging Markets Income Fund (NYSE: EDF) has announced monthly distributions for July and August 2024.
For July, a distribution of $0.06 per share will be paid on July 30, 2024, to shareholders of record as of July 11, 2024. For August, another $0.06 per share will be paid on August 29, 2024, to shareholders of record as of August 12, 2024.
These distribution amounts are estimates and not for tax reporting purposes. The final amounts and sources for tax purposes will depend on the Fund’s performance and could be affected by tax regulations. Shareholders will receive a Form 1099-DIV for the calendar year indicating the taxable distributions.
The Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has announced monthly distributions of $0.15 per share for July and August 2024. These distributions follow the Fund’s Managed Distribution Plan, aimed at maintaining consistent payout levels, potentially from net investment income, realized capital gains, or shareholder capital. The Fund estimates that a portion of the distributions may constitute a return of capital. Performance metrics include a 12.96% 5-year average annual total return based on NAV, an 8.42% annualized current distribution rate, a 6.67% fiscal YTD cumulative total return on NAV, and a 2.81% fiscal YTD cumulative distribution rate. Actual distribution sources for tax purposes will be provided in a Form 1099-DIV.
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 Convertible & Income 2024 Target Term Fund (NYSE: CBH) has announced additional details about its planned liquidation. The final trading day for the Fund on the New York Stock Exchange will be August 26, 2024. Post this date, there will be no secondary market for the Fund’s shares. The liquidation will occur after the close of business on August 30, 2024, with liquidation proceeds paid around September 4, 2024, based on shareholders’ holdings as of the Termination Date.
The Fund's final monthly distribution was declared on March 1, 2024, amounting to $0.027, payable on June 27, 2024. Shareholders are advised to consult their tax advisors regarding any tax liabilities from the liquidation proceeds. The tax-related details for the distributions will be provided through Form 1099-DIV sent by the Fund or brokers.
Virtus Equity & Convertible Income Fund (NYSE: NIE) announced a quarterly distribution of $0.50 per share with key dates: Ex-Date and Record Date on June 13, 2024, and Payable Date on June 27, 2024. The Managed Distribution Plan aims to maintain consistent distribution levels sourced from net investment income, realized capital gains, or fund assets, potentially returning a portion of the capital. Performance metrics include a 5-year average annual total return on NAV of 12.33%, a current annualized distribution rate of 8.03%, and a fiscal YTD cumulative total return on NAV of 6.66%. Notably, a substantial portion of the distribution is attributed to the return of capital.
Virtus Convertible & Income Fund II (NYSE: NCZ) has declared a quarterly cash distribution of $0.34375 per share for its Series A Cumulative Preferred Shares. The distribution is payable on June 28, 2024, to shareholders of record on June 13, 2024. The Series A shares, rated 'A' by Fitch Ratings, have an annual dividend rate of $1.375 per share and were issued on September 11, 2018, at $25.00 per share.
The shares are now callable at the liquidation value of $25.00 per share plus accrued dividends. This distribution covers the period from April 1, 2024, to June 30, 2024, and the total issuance includes 4,360,000 shares.
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 payment is scheduled for June 28, 2024, to shareholders of record as of June 13, 2024. These shares, rated 'A' by Fitch Ratings, were issued at $25.00 per share on September 20, 2018, and have an annual dividend rate of $1.40625 per share. The distribution covers the period from April 1, 2024, to June 30, 2024. The shares are callable at any time at their liquidation value plus accrued dividends.
The Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) has announced a quarterly distribution of $0.28 per share, with key dates including an ex-date and record date of June 13, 2024, and a payable date of June 27, 2024.
The distribution aims to maintain a steady payout level, comprising net investment income, realized capital gains, or a return of capital. The Fund estimates that most of the distribution comes from net investment income (87.5% QTD and 52.4% YTD), with smaller portions from realized short-term (0.4% QTD, 9.7% YTD) and long-term capital gains (4.5% QTD, 34.1% YTD), and return of capital (7.6% QTD, 3.8% YTD).
Important performance indicators include a 5-year average annual total return on NAV of 8.41%, an annualized current distribution rate of 7.79%, a fiscal YTD cumulative total return on NAV of 3.09%, and a fiscal YTD cumulative distribution rate of 3.89%.
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.
Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced a monthly distribution of $0.15 per share, payable on May 30, 2024. This distribution may include net investment income, realized capital gains, or a return of capital. Fiscal year-to-date, the distribution includes 0.5% from net investment income, 58.4% from short-term capital gains, 16.6% from long-term capital gains, and 24.5% from return of capital. The fund's average annual total return on NAV for the past five years is 12.50%, with a fiscal YTD cumulative total return on NAV of 3.65%. These figures are based on NAV and not market price.
The fund cautions that the distribution should not be confused with investment performance, as a portion may be a return of capital. Detailed performance and distribution rates, including the fiscal YTD cumulative distribution rate of 2.15%, are provided in the notice. Actual distribution amounts for tax purposes may vary.