Virtus Total Return Fund (ZTR) Declares $0.08 Dividend

Virtus Total Return Fund said on May 25, 2023 that its board of directors declared a regular monthly dividend of $0.08 per share ($0.96 annualized). Previously, the company paid $0.08 per share.

Shares must be purchased before the ex-div date of June 9, 2023 to qualify for the dividend. Shareholders of record as of June 12, 2023 will receive the payment on June 23, 2023.

At the current share price of $6.03 / share, the stock's dividend yield is 15.92%.

Looking back five years and taking a sample every week, the average dividend yield has been 12.60%, the lowest has been 9.48%, and the highest has been 23.92%. The standard deviation of yields is 2.09 (n=196).

The current dividend yield is 1.59 standard deviations above the historical average.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 84 funds or institutions reporting positions in Virtus Total Return Fund. This is an increase of 3 owner(s) or 3.70% in the last quarter. Average portfolio weight of all funds dedicated to ZTR is 0.23%, an increase of 9.90%. Total shares owned by institutions decreased in the last three months by 0.03% to 22,719K shares.

What are Other Shareholders Doing?

Sit Investment Associates holds 5,213K shares. In it's prior filing, the firm reported owning 5,495K shares, representing a decrease of 5.42%. The firm decreased its portfolio allocation in ZTR by 9.10% over the last quarter.

Rivernorth Capital Management holds 4,386K shares. In it's prior filing, the firm reported owning 4,100K shares, representing an increase of 6.51%. The firm increased its portfolio allocation in ZTR by 13.73% over the last quarter.

Yakira Capital Management holds 2,066K shares. In it's prior filing, the firm reported owning 2,587K shares, representing a decrease of 25.20%. The firm decreased its portfolio allocation in ZTR by 1.63% over the last quarter.

Rivernorth Opportunities Fund holds 1,527K shares. In it's prior filing, the firm reported owning 1,395K shares, representing an increase of 8.63%. The firm decreased its portfolio allocation in ZTR by 0.15% over the last quarter.

Clough Capital Partners L P holds 1,205K shares. In it's prior filing, the firm reported owning 916K shares, representing an increase of 23.97%. The firm increased its portfolio allocation in ZTR by 38.25% over the last quarter.

Virtus Total Return Fund Background Information
(This description is provided by the company.)

Virtus Total Return Fund Inc.is a diversified closed-end fund whose investment objective is capital appreciation, with income as a secondary objective. Virtus Investment Advisers, Inc. has been the investment adviser, and Duff & Phelps Investment Management Co.and Newfleet Asset Management, LLChave been subadvisers to the Fund since December 9, 2011. Performance and characteristics prior to December 9, 2011 were attained by the previous adviser using a different investment strategy.

This story originally appeared on Fintel.