Alpine Global Management LLC Acquires Shares of 630,000 Virtus Total Return Fund Inc. $ZTR

Key Points

• Alpine Global Management LLC bought 630,000 shares of Virtus Total Return Fund (NYSE: ZTR) in Q3, a position valued at about $4.06 million that represents roughly 1.13% of the fund.
• Virtus declared a monthly dividend of $0.05 per share payable May 28 (record/ex-dividend date May 11), implying an annualized dividend yield of about 8.8%.
• Several other institutional investors (including Invesco, Osaic, Walleye and Beverly Hills Private Wealth) increased stakes recently, and total institutional ownership of ZTR is about 47.14%.

Alpine Global Management LLC purchased a new position in Virtus Total Return Fund Inc. (NYSE:ZTR - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 630,000 shares of the investment management company's stock, valued at approximately $4,064,000. Alpine Global Management LLC owned approximately 1.13% of Virtus Total Return Fund as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Tactive Advisors LLC acquired a new position in shares of Virtus Total Return Fund in the 2nd quarter valued at about $131,000. Osaic Holdings Inc. increased its position in Virtus Total Return Fund by 150.8% in the 2nd quarter. Osaic Holdings Inc. now owns 65,798 shares of the investment management company's stock valued at $410,000 after acquiring an additional 39,567 shares during the period. Invesco Ltd. increased its holdings in shares of Virtus Total Return Fund by 74.9% during the second quarter. Invesco Ltd. now owns 71,282 shares of the investment management company's stock valued at $444,000 after purchasing an additional 30,517 shares during the period. Walleye Capital LLC increased its stake in Virtus Total Return Fund by 85.1% during the 2nd quarter. Walleye Capital LLC now owns 73,618 shares of the investment management company's stock valued at $459,000 after buying an additional 33,844 shares during the period. Finally, Beverly Hills Private Wealth LLC raised its holdings in Virtus Total Return Fund by 74.2% during the third quarter. Beverly Hills Private Wealth LLC now owns 83,446 shares of the investment management company's stock worth $538,000 after purchasing an additional 35,542 shares in the last quarter. Institutional investors and hedge funds own 47.14% of the company's stock.

Virtus Total Return Fund Stock Performance

Shares of Virtus Total Return Fund stock opened at $6.85 on Wednesday. Virtus Total Return Fund Inc. has a fifty-two week low of $5.22 and a fifty-two week high of $7.11. The business has a fifty day simple moving average of $6.65 and a 200-day simple moving average of $6.49.

Virtus Total Return Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 11th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 8.8%.

About Virtus Total Return Fund

Virtus Total Return Fund, Inc NYSE: ZTR is a closed-end management investment company that seeks to provide investors with high total return with moderate income. The fund, which began operations in 2005, trades on the New York Stock Exchange and is sponsored by Virtus Investment Partners. ZTR offers investors access to a diversified mix of fixed-income and equity opportunities within a single vehicle.

To pursue its stated objective, the fund typically allocates across a broad range of asset classes, including corporate debt securities, high-yield bonds, convertible securities, preferred stocks, common stocks and real estate investment trusts (REITs).

Want to see what other hedge funds are holding ZTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Virtus Total Return Fund Inc. (NYSE:ZTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.