Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.07 and traded as high as $26.44. Virtus Diversified Income & Convertible Fund shares last traded at $26.2320, with a volume of 18,155 shares trading hands.

Virtus Diversified Income & Convertible Fund Stock Performance

The firm has a 50-day moving average price of $25.90 and a 200-day moving average price of $26.07.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 11th will be issued a dividend of $0.18 per share. This represents a c) dividend on an annualized basis and a yield of 8.2%. The ex-dividend date is Monday, May 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is 164.85%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake 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 worth $1,310,000 after purchasing an additional 10,200 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Virtus Diversified Income & Convertible Fund by 3.0% in the second quarter. Bank of America Corp DE now owns 94,758 shares of the consumer goods maker’s stock valued at $2,169,000 after buying an additional 2,775 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Virtus Diversified Income & Convertible Fund in the second quarter valued at $27,000. Farther Finance Advisors LLC purchased a new position in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter valued at $48,000. Finally, World Investment Advisors purchased a new position in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter valued at $228,000.

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.