Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Cross Above Two Hundred Day Moving Average of $20.94

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.94 and traded as high as $23.05. Virtus Diversified Income & Convertible Fund shares last traded at $22.28, with a volume of 20,684 shares changing hands.

Virtus Diversified Income & Convertible Fund Stock Performance

The firm has a 50 day moving average of $23.18 and a 200-day moving average of $20.94.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $2.16 annualized dividend and a yield of 9.69%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACV. International Assets Investment Management LLC acquired a new stake in Virtus Diversified Income & Convertible Fund during the third quarter valued at approximately $40,000. Captrust Financial Advisors acquired a new stake in Virtus Diversified Income & Convertible Fund during the second quarter valued at approximately $53,000. Advisory Services Network LLC acquired a new stake in Virtus Diversified Income & Convertible Fund during the fourth quarter valued at approximately $92,000. D.A. Davidson & CO. boosted its holdings in Virtus Diversified Income & Convertible Fund by 12.0% during the first quarter. D.A. Davidson & CO. now owns 7,910 shares of the consumer goods maker’s stock valued at $201,000 after purchasing an additional 850 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in shares of Virtus Diversified Income & Convertible Fund in the 3rd quarter worth approximately $215,000.

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.