Saba Capital Management L.P. Makes New Investment in Virtus Total Return Fund Inc. $ZTR

Key Points

• Saba Capital Management acquired 1,134,735 shares of Virtus Total Return Fund, valued at approximately $7.5 million, giving it a 2.27% stake.
• Institutional investors own 47.14% of ZTR, with several hedge funds and investment firms adding or initiating positions recently.
• ZTR traded at $6.79 and recently announced a monthly dividend of $0.055 per share, representing an annualized yield of about 9.7%.

Saba Capital Management L.P. purchased a new stake in shares of Virtus Total Return Fund Inc. (NYSE:ZTR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,134,735 shares of the investment management company's stock, valued at approximately $7,512,000. Saba Capital Management L.P. owned 2.27% of Virtus Total Return Fund as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. CWM LLC boosted its holdings in shares of Virtus Total Return Fund by 854.9% in the fourth quarter. CWM LLC now owns 7,582 shares of the investment management company's stock worth $48,000 after buying an additional 6,788 shares during the last quarter. HRT Financial LP purchased a new stake in Virtus Total Return Fund during the fourth quarter valued at approximately $63,000. Bayban purchased a new stake in Virtus Total Return Fund during the fourth quarter valued at approximately $65,000. Closed End Fund Advisors Inc. bought a new position in Virtus Total Return Fund in the fourth quarter worth approximately $66,000. Finally, MML Investors Services LLC raised its position in Virtus Total Return Fund by 9.5% in the fourth quarter. MML Investors Services LLC now owns 25,323 shares of the investment management company's stock worth $160,000 after acquiring an additional 2,201 shares during the period. Hedge funds and other institutional investors own 47.14% of the company's stock.

Virtus Total Return Fund Trading Down 0.2%

Shares of Virtus Total Return Fund stock opened at $6.79 on Tuesday. The company's fifty day simple moving average is $6.76 and its 200-day simple moving average is $6.72. Virtus Total Return Fund Inc. has a 1-year low of $6.14 and a 1-year high of $7.11.

Virtus Total Return Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be issued a $0.055 dividend. This represents a c) dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend is Thursday, August 13th.

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).

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