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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.46 and traded as high as $22.10. Virtus Diversified Income & Convertible Fund shares last traded at $22.00, with a volume of 33,915 shares trading hands.

Virtus Diversified Income & Convertible Fund Stock Down 0.7%

The business’s fifty day simple moving average is $20.72 and its 200-day simple moving average is $21.46.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently declared a — dividend, which will be paid on Thursday, August 28th. Shareholders of record on Monday, August 11th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a yield of 9.7%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 141.82%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Elequin Capital LP bought a new stake in Virtus Diversified Income & Convertible Fund in the 1st quarter valued at $37,000. LPL Financial LLC increased its holdings in Virtus Diversified Income & Convertible Fund by 1.4% in the 4th quarter. LPL Financial LLC now owns 279,527 shares of the consumer goods maker’s stock valued at $6,136,000 after acquiring an additional 3,900 shares during the last quarter. Shaker Financial Services LLC increased its holdings in shares of Virtus Diversified Income & Convertible Fund by 14.6% in the 1st quarter. Shaker Financial Services LLC now owns 42,344 shares of the consumer goods maker’s stock worth $847,000 after buying an additional 5,391 shares during the last quarter. Royal Bank of Canada raised its position in shares of Virtus Diversified Income & Convertible Fund by 18.4% during the 1st quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock valued at $1,310,000 after buying an additional 10,200 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the 1st quarter valued at about $205,000.

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.