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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.28 and traded as high as $23.34. Virtus Diversified Income & Convertible Fund shares last traded at $22.84, with a volume of 29,078 shares traded.

Virtus Diversified Income & Convertible Fund Stock Performance

The business has a 50 day moving average price of $21.88 and a 200-day moving average price of $21.28.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $0.18 dividend. This represents a $2.16 annualized dividend and a yield of 9.56%. The ex-dividend date is Thursday, March 13th. Virtus Diversified Income & Convertible Fund’s payout ratio is 130.91%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund during the 2nd quarter valued at approximately $51,000. Raleigh Capital Management Inc. increased its stake in Virtus Diversified Income & Convertible Fund by 23.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock valued at $72,000 after purchasing an additional 637 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Virtus Diversified Income & Convertible Fund by 42.1% during the second quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock worth $268,000 after purchasing an additional 3,745 shares during the last quarter. World Equity Group Inc. purchased a new stake in Virtus Diversified Income & Convertible Fund during the third quarter worth $313,000. Finally, Shaker Financial Services LLC acquired a new stake in Virtus Diversified Income & Convertible Fund in the second quarter valued at $454,000.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund is a closed-ended balanced 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 the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.