Virtus Investmen Stock Price, News & Analysis

Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced monthly distributions of $0.10 for April and May 2021. The Fund's distribution plan aims to maintain consistent levels, potentially funded by net investment income and realized capital gains. Shareholders should be aware that if total net income and capital gains fall short, distributions may include a return of capital, which does not reflect performance.

For February 2021, net investment income per share was $0.045, accounting for 44.6% of distributions. A significant 55.4% of distributions may be a return of capital.

Virtus AllianzGI Convertible & Income Fund (NYSE: NCV) declared a cash distribution of $0.3515625 per share for Series A cumulative preferred shareholders, payable on March 31, 2021. Shareholders on record as of March 11, 2021 are eligible. The Series A shares, rated AA by Fitch, have an annual dividend rate of $1.40625 per share, issued at $25.00 each in September 2018. The shares become callable on September 20, 2023. Actual distribution amounts may vary based on the fund's investment performance.

Virtus AllianzGI Convertible & Income Fund II has declared a cash distribution of $0.34375 per share, payable on March 31, 2021, to Series A cumulative preferred shareholders of record by March 11, 2021. The total shares outstanding are 4,360,000, issued at $25.00 per share, with an annual dividend rate of $1.375. The shares are rated "AA" by Fitch and are callable post a five-year non-call period ending September 11, 2023. Distributions depend on the fund's investment performance and may be subject to tax regulation changes.

Virtus Investment Partners (NASDAQ: VRTS) announced the appointment of W. Howard Morris, CFA, to its Board of Directors and Audit Committee. Morris, 62, brings over 20 years of investment management experience, having led The Prairie & Tireman Group and served as CEO of WILMOCO Capital Management. His previous roles include financial oversight in Michigan's public schools and a board member of Owens Corning. Morris holds an MBA from Wharton and is a licensed CPA. This addition is expected to strengthen Virtus's leadership and investment expertise.

The Board of Directors of DTF Tax-Free Income Inc. announced the results of the annual shareholder meeting held on February 26, 2021. A quorum was achieved with 78.1% of shares represented. Shareholders voted to elect two directors, Eileen A. Moran and Donald C. Burke. Additionally, proposals to amend the Fund's charter were approved, which include plans for corporate dissolution in 2028 unless conditions are met for a tender offer. The Fund aims for investments in tax-exempt obligations, with Virtus Investment Partners managing approximately $132.2 billion in assets.

Virtus Investment Partners (NASDAQ: VRTS) has appointed Timothy A. Holt as the new chairman of the Board of Directors, succeeding Mark C. Treanor, who will retire this spring. Holt, who has been a board member since 2009, previously chaired the Governance Committee and served on the Compensation Committee. Treanor praised Holt's extensive industry experience and leadership abilities. His tenure as chairman spanned 12 years, during which he significantly contributed to the company's governance and shareholder value. This leadership transition is part of a planned succession strategy.

Virtus Investment Partners (NASDAQ: VRTS) has declared a quarterly cash dividend of $0.82 per common share for Q1 2021. This dividend will be paid on May 14, 2021, to shareholders on record as of April 30, 2021. Future dividends will be subject to Board approval. The company operates as a multi-boutique asset management firm aimed at the long-term success of both individual and institutional investors, offering a diverse array of investment products.

The Board of Directors of Duff & Phelps Utility and Corporate Bond Trust (NYSE: DUC) announced successful shareholder voting results for a merger with DNP Select Income Fund (DNP) on February 22, 2021. More than 68% of outstanding shares voted in favor, with 18,699,870 shares cast for the merger and only 186,044 against. The merger is expected to be effective on March 8, 2021, with DNP as the surviving entity, allowing the combined fund to retain DNP's name and investment strategies. This merger aims to enhance investment opportunities for shareholders.

Newfleet Asset Management and Virtus ETF Solutions have launched the Virtus Newfleet ABS/MBS ETF (NYSE: VABS), marking the third ETF managed by Newfleet. This actively managed ETF aims to generate income through investments in short-duration, investment-grade asset-backed (ABS) and mortgage-backed securities (MBS). Leveraging Newfleet's extensive expertise and disciplined risk management, the ETF targets competitive yields in undervalued securitized credit markets. As of December 31, 2020, Newfleet managed $9.9 billion in fixed-income assets.