Virtus Diversified Income & Convertible Fund (NYSE:ACV) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.02 and traded as high as $27.43. Virtus Diversified Income & Convertible Fund shares last traded at $27.3590, with a volume of 48,526 shares trading hands.

Virtus Diversified Income & Convertible Fund Stock Performance

The company has a 50 day moving average price of $26.82 and a 200 day moving average price of $25.02.

Virtus Diversified Income & Convertible Fund Dividend Announcement

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

Institutional Trading of Virtus Diversified Income & Convertible Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in Virtus Diversified Income & Convertible Fund in the 4th quarter valued at about $73,000. Emissary Wealth LLC bought a new stake in shares of Virtus Diversified Income & Convertible Fund during the fourth quarter worth approximately $2,090,000. Gilliland Jeter Wealth Management LLC grew its position in shares of Virtus Diversified Income & Convertible Fund by 2.9% in the fourth quarter. Gilliland Jeter Wealth Management LLC now owns 25,098 shares of the consumer goods maker’s stock valued at $660,000 after purchasing an additional 700 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of Virtus Diversified Income & Convertible Fund by 82.8% during the fourth quarter. Apollon Wealth Management LLC now owns 23,952 shares of the consumer goods maker’s stock worth $630,000 after purchasing an additional 10,847 shares during the period. Finally, World Equity Group Inc. increased its stake in shares of Virtus Diversified Income & Convertible Fund by 11.7% during the fourth quarter. World Equity Group Inc. now owns 29,867 shares of the consumer goods maker’s stock worth $785,000 after purchasing an additional 3,125 shares during the period.

Virtus Diversified Income & Convertible Fund Company Profile

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.