HARTFORD, Conn., June 28, 2021 /PRNewswire/ -- The merger of
Duff & Phelps Select MLP and Midstream Energy Fund Inc. (NYSE:
DSE), a closed-end fund, with and into Virtus Duff & Phelps
Select MLP and Energy Fund (I Shares: VLPIX) was completed as of
the close of business on Friday, June
25. The merged fund continues to have the ticker "VLPIX" and
CUSIP 92835M695, and as an open-end fund it
continuously offers its shares which may also be redeemed on any
business day of the fund as described in its prospectus.
Prior to the open of trading on the NYSE today, each share of
DSE common stock converted into an equivalent dollar amount (to the
nearest $0.0001) of shares of VLPIX.
The conversion price was based on each fund's net asset value (NAV)
per share calculated at the close of business on Friday, June 25, 2021:
|
DSE
|
$9.4704
|
|
VLPIX
|
$8.7643
|
Based upon those conversion prices, former DSE shareholders
received 1.080565 shares of common stock of VLPIX for every share
of DSE common stock they held at the time of the merger.
About the Fund
The Virtus Duff & Phelps Select MLP
and Energy Fund seeks attractive risk-adjusted total returns by
investing in North American energy infrastructure. The highly
experienced portfolio team applies a disciplined, bottom-up
investment process, focusing on energy midstream master limited
partnerships (MLPs), general partners (GPs), and C-Corporations
that own midstream oil and natural gas assets backed by long-term,
fee-based contracts.
Please consider the investment objectives, risks, charges,
and expenses of the fund carefully before investing. The prospectus
contains this and other information about the fund. For this and
other information about any Virtus mutual fund, contact your
financial representative, call 1-800-243-4361, or visit Virtus.com.
Read the prospectus carefully before you invest or send
money.
Distributed by VP Distributors, LLC, member FINRA and
subsidiary of Virtus Investment Partners, Inc.
Investing involves risk, including possible loss of
principal.
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SOURCE Virtus Investment Partners, Inc.