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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Comment by eljoroon Apr 04, 2018 8:31pm

46 Views

Post# 27832997

RE:RE:RE:Warrants

teekae:
I bought my warrants on the secondary market at an average price of .40

If the share price is at $1.30 at the time of expiry and I exercise them for $1.20 I will have effectively paid $1.60 for shares now worth $1.30, and must hope that the shares will get back up to $1.60 just to break even. Gven that the share price hasn't been above $1.60 in about 10+ months I'm not sure I would allocate another $24,000 in this company given its extended poor performance and would more likely simply let the warrants expire and take the loss.

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