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 stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.76 and traded as high as $26.20. Virtus Diversified Income & Convertible Fund shares last traded at $25.8360, with a volume of 26,261 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Down 2.0%

The firm has a fifty day moving average price of $27.27 and a 200 day moving average price of $25.76.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm 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 $0.18 dividend. The ex-dividend date is Monday, May 11th. This represents a c) dividend on an annualized basis and a yield of 8.4%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 153.94%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several large investors have recently modified their holdings of ACV. Royal Bank of Canada increased its position 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. Advisors Asset Management Inc. boosted its stake in Virtus Diversified Income & Convertible Fund by 27.5% during the second quarter. Advisors Asset Management Inc. now owns 232,133 shares of the consumer goods maker’s stock worth $5,314,000 after buying an additional 50,027 shares during the period. Guggenheim Capital LLC increased its position in shares of Virtus Diversified Income & Convertible Fund by 17.9% during the second quarter. Guggenheim Capital LLC now owns 289,591 shares of the consumer goods maker’s stock valued at $6,629,000 after acquiring an additional 43,866 shares during the last quarter. Bank of America Corp DE increased its position in shares of Virtus Diversified Income & Convertible Fund by 3.0% during 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 acquiring an additional 2,775 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at approximately $27,000.

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.