Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $24.60 and traded as high as $27.65. Virtus Diversified Income & Convertible Fund shares last traded at $27.5260, with a volume of 19,527 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Up 1.5%

The firm’s 50-day moving average price is $26.21 and its two-hundred day moving average price is $24.60.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a special dividend, which was paid on Friday, January 9th. Shareholders of record on Monday, December 29th were paid a $0.384 dividend. The ex-dividend date was Monday, December 29th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 141.82%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in shares of Virtus Diversified Income & Convertible Fund by 27.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 232,133 shares of the consumer goods maker’s stock valued at $5,314,000 after purchasing an additional 50,027 shares during the period. PMG Family Office LLC acquired a new position in Virtus Diversified Income & Convertible Fund during the third quarter worth approximately $1,058,000. Guggenheim Capital LLC lifted its stake in Virtus Diversified Income & Convertible Fund by 17.9% in the second quarter. Guggenheim Capital LLC now owns 289,591 shares of the consumer goods maker’s stock valued at $6,629,000 after buying an additional 43,866 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the second quarter valued at approximately $560,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the third quarter valued at approximately $468,000.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.