Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Cross Above 200-Day Moving Average – What’s Next?

Virtus Diversified Income & Convertible Fund (NYSE:ACV) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.21 and traded as high as $24.95. Virtus Diversified Income & Convertible Fund shares last traded at $24.8750, with a volume of 19,142 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The firm has a 50-day moving average of $24.77 and a 200-day moving average of $23.21.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a c) annualized dividend and a dividend yield of 8.7%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in shares of Virtus Diversified Income & Convertible Fund by 2.0% during the 3rd quarter. Bank of America Corp DE now owns 96,646 shares of the consumer goods maker’s stock valued at $2,329,000 after acquiring an additional 1,888 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 10.1% during the third quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock valued at $3,425,000 after purchasing an additional 13,064 shares during the last quarter. Cornerstone Advisors LLC bought a new position in Virtus Diversified Income & Convertible Fund during the third quarter valued at approximately $178,000. Oppenheimer & Co. Inc. purchased a new stake in Virtus Diversified Income & Convertible Fund in the third quarter worth approximately $281,000. Finally, Wolverine Asset Management LLC purchased a new stake in Virtus Diversified Income & Convertible Fund in the third quarter worth approximately $468,000.

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.