Virtus Convertible & Income Fund (NYSE:NCV) Share Price Passes Above Fifty Day Moving Average – What’s Next?

Virtus Convertible & Income Fund (NYSE:NCV) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.57 and traded as high as $3.63. Virtus Convertible & Income Fund shares last traded at $3.56, with a volume of 1,899,362 shares changing hands.

Virtus Convertible & Income Fund Stock Performance

The business has a 50 day moving average of $3.57 and a 200-day moving average of $3.50.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $0.136 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 45.84%.

Institutional Trading of Virtus Convertible & Income Fund

Large investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its stake in shares of Virtus Convertible & Income Fund by 61.1% during the third quarter. Thrivent Financial for Lutherans now owns 158,200 shares of the investment management company’s stock worth $554,000 after buying an additional 60,000 shares during the period. Ionic Capital Management LLC purchased a new stake in Virtus Convertible & Income Fund during the 3rd quarter valued at approximately $64,000. Larson Financial Group LLC lifted its position in Virtus Convertible & Income Fund by 226.1% during the 3rd quarter. Larson Financial Group LLC now owns 15,000 shares of the investment management company’s stock worth $52,000 after acquiring an additional 10,400 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Virtus Convertible & Income Fund in the 3rd quarter valued at approximately $8,974,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Virtus Convertible & Income Fund by 2.4% in the third quarter. Advisors Asset Management Inc. now owns 2,619,727 shares of the investment management company’s stock valued at $9,169,000 after purchasing an additional 60,559 shares during the period.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.