Virtus Global Multi-Sector Income Fund (NYSE:VGI) Trading Up 0.4% – Still a Buy?

Virtus Global Multi-Sector Income Fund (NYSE:VGIGet Free Report)’s stock price traded up 0.4% during mid-day trading on Friday . The company traded as high as $7.75 and last traded at $7.69. 16,496 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 46,227 shares. The stock had previously closed at $7.66.

Virtus Global Multi-Sector Income Fund Price Performance

The company has a 50 day simple moving average of $7.83 and a 200-day simple moving average of $7.86.

Virtus Global Multi-Sector Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 12.48%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Investors Weigh In On Virtus Global Multi-Sector Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC raised its position in shares of Virtus Global Multi-Sector Income Fund by 6.2% in the third quarter. SeaCrest Wealth Management LLC now owns 42,397 shares of the company’s stock valued at $343,000 after purchasing an additional 2,488 shares during the period. International Assets Investment Management LLC grew its stake in Virtus Global Multi-Sector Income Fund by 722.2% in the 3rd quarter. International Assets Investment Management LLC now owns 50,549 shares of the company’s stock valued at $409,000 after buying an additional 44,401 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Virtus Global Multi-Sector Income Fund during the 3rd quarter valued at $108,000. Fiera Capital Corp raised its holdings in Virtus Global Multi-Sector Income Fund by 10.3% during the 3rd quarter. Fiera Capital Corp now owns 99,661 shares of the company’s stock valued at $807,000 after acquiring an additional 9,310 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Virtus Global Multi-Sector Income Fund by 57.8% in the third quarter. Stifel Financial Corp now owns 70,175 shares of the company’s stock worth $568,000 after acquiring an additional 25,710 shares during the period.

About Virtus Global Multi-Sector Income Fund

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Virtus Global Multi-Sector Income Fund is a closed ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc and Newfleet Asset Management, LLC. It invests in fixed income markets across the globe. The fund invests in both investment grade and high yield debt instruments issued by the government, corporate, bank loans, mortgage-backed securities, asset-backed securities, taxable municipal bonds, and tax-exempt municipal bonds.

Further Reading

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