Virtus Diversified Income & Convertible FundNYSE: ACV

BUFFALO, N.Y., July 24, 2024 (GLOBE NEWSWIRE) --  ACV (Nasdaq: ACVA), a leading digital automotive marketplace and data services partner for dealers and commercial clients, announced today that the Company will report second quarter 2024 financial results after market close and host a conference call at 5:00 p.m. ET on Wednesday, August 7, 2024.

HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Diversified Income & Convertible Fund (NYSE: ACV) previously announced the following monthly distribution on March 1, 2024: Ticker Amount of Distribution Ex-Date Record Date Payable Date ACV $0.18 June 13, 2024 June 13, 2024 June 27, 2024 Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full, from net investment income and realized capital gains, or a combi.

HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Diversified Income & Convertible Fund (NYSE: ACV) has announced a monthly distribution on March 1, 2024 as follows: Ticker Amount of Distribution Ex-Date Record Date Payable Date ACV $0.18 May 10, 2024 May 13, 2024 May 30, 2024 The Fund aims to maintain a steady distribution level under its Managed Distribution Plan, which may be funded by net investment income, realized capital gains, or a combination of both.

Stock number 6 is Cohen & Steers Closed-End Opportunity Fund, Inc. with a yield of 10.55%. For $20,000, you would receive approximately 1,739 shares and a monthly dividend income of around $175.83. Balanced funds provide the opportunity for capital growth and the security and income benefits of bonds.

Virtus Diversified Income & Convertible Fund offers a 9.83% yield, making it an appealing option for a closed-end fund with a diverse investment strategy. While the fund has not performed as well as the convertible index in the last 3 months, it has outperformed when factoring in distributions. The fund has decreased its investment in convertible securities and increased its allocation to high-yield bonds since the beginning of the year.

The Virtus Diversified Income & Convertible Fund invests in convertible securities, providing income-focused investors with potential upside of equity investments. The fund appears to be one of the better convertible CEFs offered by Virtus as it has managed to outperform the S&P 500 and the Convertible Stock Indices. The fund pays a high distribution yield of 9.50% and has a consistent distribution history, making it attractive for income-focused investors. However, its share price is currently at a high premium.

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promises high distributions and reasonable total returns. Closed-end funds, or CEFs, are generally characterized by higher volatility and deeper drawdowns than the broader market. For these reasons, they are not suited for everyone. In this monthly series, we highlight five CEFs with solid track records that pay high distributions and offer "excess" discounts. We try to separate the wheat from the chaff using our filtering process to select just five CEFs every month from around 500 closed-end funds.

Virtus Diversified Income & Convertible Fund is a hybrid fund that invests across asset classes, though it tilts towards convertibles with a tech-tilt. The fund's leverage and being a closed-end fund can often make this fund quite volatile, which can lead to opportunities that can show up quickly but can disappear as quickly. The fund's distribution rate is quite tempting, but I would still remain cautious given that it is elevated while capital gains are needed to fund it.

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promises high distributions and reasonable total returns. Closed-end funds, or CEFs, are generally characterized by higher volatility and deeper drawdowns than the broader market. For these reasons, they are not suited for everyone. In this monthly series, we highlight five CEFs with solid track records, pay high distributions, and offer "excess" discounts. We try to separate the wheat from the chaff using our filtering process to select just five CEFs every month from around 500 closed-end funds.