Virtus Global Multi-Sector Income Fund (NYSE:VGI) Sees Significant Increase in Short Interest

Virtus Global Multi-Sector Income Fund (NYSE:VGI) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 45,115 shares, a growth of 67.8% from the August 31st total of 26,890 shares. Based on an average daily trading volume, of 35,575 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Closed End Fund Advisors Inc. bought a new stake in Virtus Global Multi-Sector Income Fund in the 4th quarter worth approximately $104,000. Susquehanna International Group LLP purchased a new stake in Virtus Global Multi-Sector Income Fund during the second quarter valued at $124,000. Van Diest Capital LLC lifted its holdings in Virtus Global Multi-Sector Income Fund by 46.4% in the first quarter. Van Diest Capital LLC now owns 18,046 shares of the company’s stock valued at $133,000 after acquiring an additional 5,716 shares during the period. Kovack Advisors Inc. lifted its holdings in Virtus Global Multi-Sector Income Fund by 17.1% in the second quarter. Kovack Advisors Inc. now owns 18,049 shares of the company’s stock valued at $135,000 after acquiring an additional 2,638 shares during the period. Finally, Worth Asset Management LLC boosted its position in Virtus Global Multi-Sector Income Fund by 116.9% in the first quarter. Worth Asset Management LLC now owns 32,641 shares of the company’s stock worth $241,000 after purchasing an additional 17,592 shares during the last quarter.

Virtus Global Multi-Sector Income Fund Price Performance

Shares of VGI traded down $0.04 on Thursday, hitting $6.71. 55,638 shares of the stock traded hands, compared to its average volume of 41,105. Virtus Global Multi-Sector Income Fund has a one year low of $6.64 and a one year high of $8.04. The business has a 50 day simple moving average of $7.19 and a 200 day simple moving average of $7.36.

Virtus Global Multi-Sector Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.96 annualized dividend and a dividend yield of 14.3%.

Virtus Global Multi-Sector Income Fund Company Profile

Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund invests across global fixed-income markets rather than concentrating on a single bond sector or geographic region.

Its portfolio may include corporate bonds, government and sovereign debt, emerging-market securities, mortgage- and asset-backed securities, bank loans, and other income-producing credit instruments.