AllianzGI Diversified Income & Convertible Fund (NYSE:ACV) Sees Significant Increase in Short Interest

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AllianzGI Diversified Income & Convertible Fund (NYSE:ACV) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 23,900 shares, an increase of 246.4% from the December 15th total of 6,900 shares. Based on an average daily trading volume, of 45,000 shares, the days-to-cover ratio is presently 0.5 days.

Several institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its holdings in shares of AllianzGI Diversified Income & Convertible Fund by 10.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 328,725 shares of the consumer goods maker’s stock valued at $8,330,000 after purchasing an additional 31,755 shares during the last quarter. Morgan Stanley grew its position in AllianzGI Diversified Income & Convertible Fund by 23.4% during the third quarter. Morgan Stanley now owns 70,974 shares of the consumer goods maker’s stock valued at $1,798,000 after buying an additional 13,456 shares during the period. LPL Financial LLC grew its position in AllianzGI Diversified Income & Convertible Fund by 6.5% during the third quarter. LPL Financial LLC now owns 60,483 shares of the consumer goods maker’s stock valued at $1,533,000 after buying an additional 3,698 shares during the period. Advisor Group Holdings Inc. grew its position in AllianzGI Diversified Income & Convertible Fund by 11.4% during the second quarter. Advisor Group Holdings Inc. now owns 38,356 shares of the consumer goods maker’s stock valued at $885,000 after buying an additional 3,910 shares during the period. Finally, Stifel Financial Corp grew its position in AllianzGI Diversified Income & Convertible Fund by 13.6% during the second quarter. Stifel Financial Corp now owns 29,813 shares of the consumer goods maker’s stock valued at $687,000 after buying an additional 3,558 shares during the period.

ACV stock traded up $0.38 during mid-day trading on Tuesday, hitting $34.00. The stock had a trading volume of 41,040 shares, compared to its average volume of 48,849. The firm has a fifty day simple moving average of $31.75 and a 200 day simple moving average of $27.36. AllianzGI Diversified Income & Convertible Fund has a 52 week low of $11.51 and a 52 week high of $34.00.

The business also recently declared a monthly dividend, which will be paid on Monday, February 1st. Investors of record on Thursday, January 14th will be issued a dividend of $0.167 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Wednesday, January 13th.

About AllianzGI Diversified Income & Convertible Fund

AllianzGI Diversified Income & Convertible Fund is a closed-ended balanced mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.

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