Virtus Convertible & Income Fund (NYSE:NCV) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Virtus Convertible & Income Fund (NYSE:NCV) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.45 and traded as low as $3.45. Virtus Convertible & Income Fund shares last traded at $3.46, with a volume of 184,266 shares.

Virtus Convertible & Income Fund Trading Up 2.6 %

The firm has a fifty day moving average price of $3.55 and a two-hundred day moving average price of $3.46.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $0.136 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.63 annualized dividend and a yield of 45.97%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds have recently added to or reduced their stakes in the company. MCF Advisors LLC bought a new position in Virtus Convertible & Income Fund during the 2nd quarter valued at about $29,000. International Assets Investment Management LLC boosted its holdings in Virtus Convertible & Income Fund by 250.0% in the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after purchasing an additional 6,030 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Virtus Convertible & Income Fund in the 3rd quarter worth approximately $35,000. Jane Street Group LLC purchased a new stake in Virtus Convertible & Income Fund during the 3rd quarter valued at $36,000. Finally, PVG Asset Management Corp bought a new position in shares of Virtus Convertible & Income Fund during the 3rd quarter valued at $45,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.