Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.33 and traded as high as $22.09. Virtus Diversified Income & Convertible Fund shares last traded at $21.99, with a volume of 35,366 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Up 0.5 %

The firm’s 50-day moving average price is $21.96 and its two-hundred day moving average price is $21.33.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.82%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 130.91%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACV. International Assets Investment Management LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund in the second quarter valued at approximately $51,000. Raleigh Capital Management Inc. lifted its holdings in Virtus Diversified Income & Convertible Fund by 23.5% in the third quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock valued at $72,000 after acquiring an additional 637 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Virtus Diversified Income & Convertible Fund by 42.1% during the 2nd 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 in the last quarter. World Equity Group Inc. acquired a new position in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter worth $313,000. Finally, Shaker Financial Services LLC purchased a new position in shares of Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at about $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.