Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Virtus Diversified Income & Convertible Fund (NYSE:ACVGet Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.48 and traded as high as $21.93. Virtus Diversified Income & Convertible Fund shares last traded at $21.85, with a volume of 20,371 shares trading hands.

Virtus Diversified Income & Convertible Fund Stock Performance

The company’s 50 day moving average price is $22.29 and its 200-day moving average price is $21.48.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $0.18 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 9.89%. The ex-dividend date is Thursday, March 13th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. increased its holdings in 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 acquiring an additional 637 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Virtus Diversified Income & Convertible Fund by 42.1% during the second quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock worth $268,000 after purchasing an additional 3,745 shares during the period. World Equity Group Inc. purchased a new position in shares of Virtus Diversified Income & Convertible Fund in the third quarter worth about $313,000. B. Riley Wealth Advisors Inc. raised its position in shares of 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 period. Finally, Landscape Capital Management L.L.C. raised its position in shares of Virtus Diversified Income & Convertible Fund by 212.6% in the third quarter. Landscape Capital Management L.L.C. now owns 44,357 shares of the consumer goods maker’s stock valued at $952,000 after purchasing an additional 30,169 shares during the period.

About Virtus Diversified Income & Convertible Fund

(Get Free Report)

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.

Further Reading

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