Virtus Diversified Income & Convertible Fund (NYSE:ACV) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Virtus Diversified Income & Convertible Fund (NYSE:ACV) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.53 and traded as high as $23.09. Virtus Diversified Income & Convertible Fund shares last traded at $22.84, with a volume of 30,041 shares changing hands.

Virtus Diversified Income & Convertible Fund Stock Performance

The company has a 50 day simple moving average of $22.35 and a 200 day simple moving average of $21.53.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.18 per share. This represents a $2.16 annualized dividend and a dividend yield of 9.46%. The ex-dividend date is Thursday, March 13th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 130.91%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Hedge funds have recently made changes to their positions in the company. Raymond James & Associates increased its stake in shares of Virtus Diversified Income & Convertible Fund by 5.0% during the third quarter. Raymond James & Associates now owns 136,344 shares of the consumer goods maker’s stock worth $2,926,000 after acquiring an additional 6,441 shares during the period. Wolverine Asset Management LLC boosted its holdings in Virtus Diversified Income & Convertible Fund by 275.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 121,373 shares of the consumer goods maker’s stock valued at $2,605,000 after purchasing an additional 89,088 shares in the last quarter. International Assets Investment Management LLC increased its position in Virtus Diversified Income & Convertible Fund by 2,101.5% during the 3rd quarter. International Assets Investment Management LLC now owns 52,947 shares of the consumer goods maker’s stock worth $1,136,000 after purchasing an additional 50,542 shares during the period. Shaker Financial Services LLC raised its stake in shares of Virtus Diversified Income & Convertible Fund by 137.6% during the 3rd quarter. Shaker Financial Services LLC now owns 50,876 shares of the consumer goods maker’s stock worth $1,092,000 after buying an additional 29,467 shares in the last quarter. Finally, Landscape Capital Management L.L.C. lifted its holdings in shares of Virtus Diversified Income & Convertible Fund by 212.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 44,357 shares of the consumer goods maker’s stock valued at $952,000 after buying an additional 30,169 shares during the period.

About Virtus Diversified Income & Convertible Fund

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.