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.
DNP Select Income Fund (NYSE: DNP) announced a monthly dividend of 6.5 cents per share, payable on February 10, 2021, as part of its Managed Distribution Plan established in 2007. The Plan aims to maintain this distribution rate by utilizing available investment income or long-term capital gains when necessary. In the fiscal year-to-date, the Fund's cumulative total return on NAV is -10.57%, with an annualized distribution rate of 9.03% of NAV. Investors are advised that these distribution amounts are estimates and may change as the fiscal year progresses.
DTF Tax-Free Income Inc. (NYSE: DTF) announced a special taxable distribution of $0.000160 per share to be paid on January 11, 2021. Shareholders of record on December 31, 2020 will receive this distribution, with the ex-dividend date set for December 30, 2020. The fund primarily invests in a diversified portfolio of investment-grade tax-exempt obligations to provide current income exempt from federal income tax.
Virtus Investment Partners (NASDAQ: VRTS), the parent company, manages assets worth $116.5 billion as of September 30, 2020.
On December 17, 2020, DTF Tax-Free Income Inc. (NYSE: DTF) announced a series of dividend payments for its common stock. The dividends are set at 4.0 cents per share with the following key dates: Ex-Dividend Dates on January 14, February 12, and March 12, 2021; Record Dates on January 15, February 16, and March 15, 2021; and Payable Dates on January 29, February 26, and March 31, 2021. The fund aims to provide current income exempt from federal income tax while preserving capital through investments in a diversified portfolio of investment-grade tax-exempt obligations.
The Board of Directors of Duff & Phelps Utility and Infrastructure Fund (NYSE: DPG) has declared a quarterly dividend of $0.35 per share. The ex-dividend date is March 12, 2021, with record date on March 15, 2021, and payable date set for March 31, 2021. Since adopting a Managed Distribution Plan in 2015, the fund has aimed to maintain this distribution rate by utilizing available investment income. Notably, in December 2020, the fund's cumulative distribution for the fiscal year was reported at 10.73% on net asset value (NAV), indicating a strong focus on providing tax-advantaged dividend income.
Virtus Investment Partners reported preliminary total assets under management (AUM) of $126.1 billion as of November 30, 2020, including $1.5 billion in liquidity assets. Its long-term AUM reached $124.5 billion, showing an increase from $115.2 billion reported in October 2020. Open-end funds contributed $47.4 billion to long-term AUM, up from $43.6 billion the previous month. Institutional accounts also saw growth, reaching $38.5 billion, compared to $36.1 billion in October.
On December 8, 2020, DTF Tax-Free Income Inc. (NYSE: DTF) announced a cash tender offer for up to 17.5% of its outstanding common stock at 98% of the net asset value (NAV) per share. This offer will expire on January 7, 2021, unless extended. The fund will repurchase shares on a pro rata basis if oversubscribed. DTF Tax-Free Income Inc. aims to provide current income exempt from regular federal tax through a diversified portfolio of investment-grade tax-exempt securities. Shareholders are advised to read the full Offer to Purchase before participating.
Virtus Investment Partners (NASDAQ: VRTS) has declared a quarterly cash dividend of $0.82 per common share for Q4 2020. This dividend will be paid on February 12, 2021, to shareholders on record by January 29, 2021. The company's Board of Directors retains the authority for future dividend declarations, which reflects its ongoing commitment to shareholder returns. As part of its multi-boutique asset management approach, Virtus emphasizes long-term success for both individual and institutional investors.
Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share on December 10, 2020. The fund aims to maintain steady distributions, potentially funded partially by net investment income and capital gains. Shareholders should be aware that if the fund's income and gains are insufficient, the shortfall will be sourced from its assets, representing a return of capital. As of November 2020, approximately 58.6% of the distribution is anticipated to be a return of capital, reflecting a potential decrease in actual investment performance.
On December 2, 2020, the Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10 per share, payable on December 18, 2020. The Fund's Managed Distribution Plan aims to maintain consistent distribution levels, which may include returns of capital when net earnings are insufficient. The estimated distribution sources indicate that 54.9% of the November distribution represents a return of capital. The Fund's fiscal year-to-date annualized distribution rate is 9.56%, highlighting its focus on maximizing current income while preserving capital.
On November 23, 2020, DTF Tax-Free Income authorized a cash tender offer for up to 17.5% of its outstanding shares. This action is part of a strategy to address the current trading discount of the Fund's market price relative to its net asset value. Additionally, the Board proposed converting the Fund from a perpetual existence to a 7-year term, pending shareholder approval. These moves are linked to a standstill agreement with significant shareholder Karpus Management. Further details on the tender offer will be announced later.