HARTFORD, Conn., June 29, 2017 /PRNewswire/ -- The Virtus
Total Return Fund Inc. (NYSE: ZF) announced today that that, in
accordance with its tender offer for up to 5 percent of its issued
and outstanding shares of common stock, which expired at
11:59 p.m., New York time, on June
23, 2017, the fund has accepted 1,133,020.45 shares,
representing 5 percent of its outstanding shares, for payment on or
about June 30, 2017.
A total of 6,104,415.82 shares were properly tendered and not
withdrawn by June 23, 2017, the final
date for withdrawals. Therefore, on a pro-rated basis,
approximately 18.568 percent of the shares so tendered by each
tendering stockholder have been accepted for payment. The purchase
price of properly tendered shares is 98 percent of the net asset
value per share determined as of the close of the regular trading
session of the New York Stock Exchange (NYSE) on June 23, 2017, which is equal to $13.1908 per
share.
About the Fund
The Virtus Total Return Fund Inc. (formerly known as The Zweig
Fund, Inc.) is a diversified closed-end fund whose investment
objective is capital appreciation, with income as a secondary
objective. The fund has a current target allocation of
approximately 60 percent equity securities, primarily invested
globally in owners/operators of infrastructure in the
communications, utility, energy, and transportation industries, and
40 percent fixed income, designed to generate high current income
and total return through the application of active sector rotation,
extensive credit research, and disciplined risk management. The
fund also pursues an options overlay strategy that seeks to
generate additional income through the use of index-based,
out-of-the money put and call spreads. Virtus Investment Advisers
is the adviser to the fund and Duff & Phelps Investment
Management and Newfleet Asset Management are the subadvisers.
For more information about the fund, contact Shareholder
Services at (866) 270-7788, by email at closedendfunds@virtus.com,
or through the closed end fund section on the web at
www.virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk
of possible loss of principal. A fund's shares may be worth less
upon their sale than what an investor paid for them. Shares of
closed-end funds may trade at a discount to their net asset
value.
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SOURCE Virtus Total Return Fund Inc.