Virtus Diversified Income & Convertible Fund V.ACV.P

Primary Symbol: ACV

Virtus Diversified Income & Convertible Fund (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide a total return through a combination of current income, current gains, and long-term capital appreciation. The Fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of convertible securities, income-producing equity securities, income-producing debt, and other instruments of varying maturities, of which at least 50% of total managed assets are invested in convertibles. The Fund has the latitude to write covered call options on the stocks held in the equity portion. The Fund's investment advisor is Virtus Investment Advisers, Inc.

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Virtus Diversified Income & Convertible Fund

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Post by eljoroon Jun 21, 2017 11:45pm

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Post# 26390791

Results out

Excellent revenue growth. Okay EBITDA, Margins a bit squeezed because of Love Child discount pricing at large grocers (something I noticed a lot of when shopping and actually emailed the company earlier this quarter asking how the discounts worked so it's not a big surprise to me to see this).

Overall decent quarter. Nothing about a new CFO. A brief mention about consolodation in the industry. I'm starting to think this gets taken out sooner than I expected.

Not sure this quarter moves the needle much, but my $2+ target price for end of 2017 remains in place.

Anyone else have any thoughts on the Q?
El Joro

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