Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Passes Above 200 Day Moving Average – Time to Sell?

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.59 and traded as high as $23.12. Virtus Diversified Income & Convertible Fund shares last traded at $22.97, with a volume of 35,311 shares.

Virtus Diversified Income & Convertible Fund Stock Performance

The business has a fifty day simple moving average of $22.50 and a 200 day simple moving average of $21.62.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.18 per share. This represents a $2.16 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date of this dividend is Thursday, March 13th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raleigh Capital Management Inc. boosted its stake in shares of Virtus Diversified Income & Convertible Fund by 23.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock worth $72,000 after buying an additional 637 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Virtus Diversified Income & Convertible Fund by 7.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 25,423 shares of the consumer goods maker’s stock valued at $539,000 after purchasing an additional 1,864 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Virtus Diversified Income & Convertible Fund in the fourth quarter valued at approximately $41,000. Raymond James & Associates lifted its stake in Virtus Diversified Income & Convertible Fund by 5.0% in the third quarter. Raymond James & Associates now owns 136,344 shares of the consumer goods maker’s stock valued at $2,926,000 after purchasing an additional 6,441 shares during the last quarter. Finally, World Equity Group Inc. bought a new stake in Virtus Diversified Income & Convertible Fund during the 3rd quarter valued at $313,000.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus 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.