Virtus Total Return Fund Inc. (NYSE:ZTR) Short Interest Up 240.9% in March

Key Points

• Short interest jumped 240.9% in March to 59,395 shares (from 17,425), equal to about 0.1% of shares short and a days-to-cover ratio of 0.3 based on average volume.
• Monthly dividend of $0.05 announced, payable May 28 with record/ex-dividend date May 11, implying an annualized yield of roughly 9.0%.
• Institutional investors own 47.14% of the fund, and the stock recently traded near $6.65 within a 52-week range of $5.22–$7.11.

Virtus Total Return Fund Inc. (NYSE:ZTR - Get Free Report) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 59,395 shares, an increase of 240.9% from the February 26th total of 17,425 shares. Currently, 0.1% of the company's shares are short sold. Based on an average trading volume of 231,088 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 231,088 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company's shares are short sold.

Hedge Funds Weigh In On Virtus Total Return Fund

Several institutional investors and hedge funds have recently made changes to their positions in ZTR. CWM LLC increased its position in shares of Virtus Total Return Fund by 854.9% in the 4th quarter. CWM LLC now owns 7,582 shares of the investment management company's stock valued at $48,000 after buying an additional 6,788 shares in the last quarter. HRT Financial LP bought a new position in Virtus Total Return Fund during the fourth quarter worth about $63,000. Bayban acquired a new position in Virtus Total Return Fund in the fourth quarter valued at about $65,000. Closed End Fund Advisors Inc. acquired a new position in Virtus Total Return Fund in the fourth quarter valued at about $66,000. Finally, Tactive Advisors LLC bought a new stake in shares of Virtus Total Return Fund in the second quarter worth about $131,000. Institutional investors and hedge funds own 47.14% of the company's stock.

Virtus Total Return Fund Stock Up 0.8%

Virtus Total Return Fund stock traded up $0.06 during midday trading on Wednesday, hitting $6.65. 63,976 shares of the stock were exchanged, compared to its average volume of 224,211. The company has a fifty day simple moving average of $6.69 and a two-hundred day simple moving average of $6.50. Virtus Total Return Fund has a 52 week low of $5.22 and a 52 week high of $7.11.

Virtus Total Return Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 11th will be issued a $0.05 dividend. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a yield of 9.0%.

Virtus Total Return Fund Company Profile

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).

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.