Virtus Global Multi-Sector Income Fund Plans Monthly Dividend of $0.08 (NYSE:VGI)

Virtus Global Multi-Sector Income Fund (NYSE:VGI – Get Rating) announced a monthly dividend on Wednesday, May 25th, Zacks reports. Investors of record on Monday, June 13th will be given a dividend of 0.08 per share on Tuesday, June 21st. This represents a $0.96 dividend on an annualized basis and a yield of 10.82%. The ex-dividend date is Friday, June 10th.

Virtus Global Multi-Sector Income Fund has decreased its dividend by an average of 14.5% annually over the last three years.

Shares of NYSE VGI opened at $8.87 on Friday. The firm has a 50-day simple moving average of $9.25 and a 200-day simple moving average of $10.28. Virtus Global Multi-Sector Income Fund has a 52 week low of $8.43 and a 52 week high of $12.17.

Several institutional investors have recently added to or reduced their stakes in VGI. Royal Bank of Canada raised its stake in shares of Virtus Global Multi-Sector Income Fund by 336.7% in the first quarter. Royal Bank of Canada now owns 6,441 shares of the company’s stock valued at $64,000 after acquiring an additional 4,966 shares in the last quarter. Stifel Financial Corp purchased a new stake in Virtus Global Multi-Sector Income Fund during the fourth quarter worth approximately $155,000. LPL Financial LLC lifted its stake in Virtus Global Multi-Sector Income Fund by 15.9% during the third quarter. LPL Financial LLC now owns 21,394 shares of the company’s stock worth $252,000 after purchasing an additional 2,937 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Virtus Global Multi-Sector Income Fund during the 4th quarter worth $370,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Virtus Global Multi-Sector Income Fund by 7.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 52,081 shares of the company’s stock worth $517,000 after acquiring an additional 3,531 shares in the last quarter.

About Virtus Global Multi-Sector Income Fund (Get Rating)

Virtus Global Multi-Sector Income Fund is a closed ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc and Newfleet Asset Management, LLC. It invests in fixed income markets across the globe. The fund invests in both investment grade and high yield debt instruments issued by the government, corporate, bank loans, mortgage-backed securities, asset-backed securities, taxable municipal bonds, and tax-exempt municipal bonds.

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