A portfolio manager for the Virtus Diversified Income & Convertible Fund liquidated his entire stake in the vehicle, according to a regulatory filing. Justin Kass sold 10,484.0697 shares on August 10 for approximately $286,973, at a price of $27.3723 per share, reducing his beneficial ownership to zero.
The transaction was initially logged under a general disposition before being amended to reflect a direct sale, the filing with the U.S. Securities and Exchange Commission showed. The fund’s shares, listed on the New York Stock Exchange under ticker ACV, were trading at $26.67 at the time of the report, below the sale price.
The fund has delivered a 27% one-year return and maintains an 8.13% dividend yield, with 12 consecutive years of payouts. The manager’s divestment follows the vehicle’s recent performance trajectory, though the timing and motivation were not disclosed in the filing.
