Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of 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 $26.91 and traded as high as $27.61. Virtus Diversified Income & Convertible Fund shares last traded at $27.03, with a volume of 15,691 shares changing hands.

Virtus Diversified Income & Convertible Fund Price Performance

The stock has a 50-day moving average price of $27.66 and a 200-day moving average price of $26.91.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is currently 153.94%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors and hedge funds have recently modified their holdings of ACV. Royal Bank of Canada raised its stake in Virtus Diversified Income & Convertible Fund by 18.4% in 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 in the last quarter. Bank of America Corp DE grew its position in shares of Virtus Diversified Income & Convertible Fund by 3.0% during the 2nd quarter. Bank of America Corp DE now owns 94,758 shares of the consumer goods maker’s stock worth $2,169,000 after purchasing an additional 2,775 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Virtus Diversified Income & Convertible Fund during the second quarter worth approximately $27,000. Raymond James Financial Inc. increased 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 worth $3,425,000 after purchasing an additional 13,064 shares during the period. Finally, World Equity Group Inc. raised its position in shares of Virtus Diversified Income & Convertible Fund by 11.7% in the fourth quarter. World Equity Group Inc. now owns 29,867 shares of the consumer goods maker’s stock valued at $785,000 after buying an additional 3,125 shares in the last quarter.

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.