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

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.95 and traded as high as $27.43. Virtus Diversified Income & Convertible Fund shares last traded at $26.76, with a volume of 22,660 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The company has a 50 day moving average of $27.67 and a 200 day moving average of $26.95.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Shareholders 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 8.1%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 153.94%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Virtus Diversified Income & Convertible Fund by 4.3% during the 4th quarter. Royal Bank of Canada now owns 69,462 shares of the consumer goods maker’s stock worth $1,826,000 after purchasing an additional 2,892 shares in the last quarter. Bank of America Corp DE lifted its holdings in Virtus Diversified Income & Convertible Fund by 2.0% during the 3rd quarter. Bank of America Corp DE now owns 96,646 shares of the consumer goods maker’s stock valued at $2,329,000 after purchasing an additional 1,888 shares during the last quarter. Raymond James Financial Inc. boosted its position in Virtus Diversified Income & Convertible Fund by 10.1% in the third quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock valued at $3,425,000 after buying an additional 13,064 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Virtus Diversified Income & Convertible Fund by 13.3% in the fourth quarter. Advisors Asset Management Inc. now owns 222,978 shares of the consumer goods maker’s stock valued at $5,862,000 after buying an additional 26,251 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Virtus Diversified Income & Convertible Fund by 1.5% in the fourth quarter. LPL Financial LLC now owns 298,852 shares of the consumer goods maker’s stock valued at $7,857,000 after buying an additional 4,349 shares in the last quarter.

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.