Virtus Total Return Fund Inc. (NYSE:ZTR) Shares Shorted: Short Interest Up 680.0% in October

Key Points

• Short interest surged 680% to 111,085 shares as of October 15, up from 14,241 shares at the end of September. Despite the increase, short interest represented only about 0.2% of shares outstanding, with a days-to-cover ratio of 0.7.
• Virtus Total Return Fund shares opened at $6.52, within a 52-week range of $5.92 to $7.11. The fund declared a monthly dividend of $0.055 per share, equivalent to an annualized $0.66 dividend and a 10.1% yield.
• Institutional investors owned 47.14% of the fund, with firms including Saba Capital Management and Capstone Investment Advisors establishing new positions and Ashton Thomas Securities nearly doubling its holdings.

Virtus Total Return Fund Inc. (NYSE:ZTR - Get Free Report) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 111,085 shares, a growth of 680.0% from the September 30th total of 14,241 shares. Based on an average trading volume of 154,901 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the shares of the company are short sold.

Virtus Total Return Fund Stock Performance

NYSE ZTR opened at $6.52 on Tuesday. Virtus Total Return Fund has a 52-week low of $5.92 and a 52-week high of $7.11. The firm has a 50-day moving average of $6.41 and a 200-day moving average of $6.65.

Virtus Total Return Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be issued a dividend of $0.0550 per share. This represents a $0.66 annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend is Thursday, November 12th.

Institutional Trading of Virtus Total Return Fund

Institutional investors have recently modified their holdings of the stock. Saba Capital Management L.P. bought a new position in Virtus Total Return Fund in the first quarter valued at approximately $7,512,000. Capstone Investment Advisors LLC bought a new stake in shares of Virtus Total Return Fund in the 2nd quarter valued at about $2,529,000. Private Advisor Group LLC boosted its stake in shares of Virtus Total Return Fund by 4.2% in the 1st quarter. Private Advisor Group LLC now owns 351,813 shares of the investment management company's stock valued at $2,329,000 after purchasing an additional 14,238 shares during the last quarter. Bank of America Corp DE acquired a new stake in Virtus Total Return Fund during the 2nd quarter worth about $1,756,000. Finally, Ashton Thomas Securities LLC increased its holdings in Virtus Total Return Fund by 99.8% in the first quarter. Ashton Thomas Securities LLC now owns 226,800 shares of the investment management company's stock worth $1,501,000 after purchasing an additional 113,300 shares in the last quarter. 47.14% of the stock is currently owned by institutional investors.

Virtus Total Return Fund Company Profile

Virtus Total Return Fund NYSE: ZTR is a diversified closed-end investment company. The fund seeks to provide shareholders with total return through a combination of current income and long-term capital appreciation.

The fund invests in a portfolio of equity and fixed-income securities. Its holdings may include common stocks, preferred stocks, convertible securities and debt securities, giving the portfolio exposure to both income-producing investments and companies with potential for capital appreciation.

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