Virtus Convertible & Income Fund (NYSE:NCV) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Virtus Convertible & Income Fund (NYSE:NCV) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.00 and traded as low as $12.99. Virtus Convertible & Income Fund shares last traded at $13.16, with a volume of 78,775 shares changing hands.

Virtus Convertible & Income Fund Stock Up 1.1 %

The business’s 50-day moving average price is $13.88 and its 200-day moving average price is $14.00.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.136 per share. This represents a $1.63 annualized dividend and a dividend yield of 12.40%. The ex-dividend date of this dividend is Thursday, June 12th.

Institutional Trading of Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of Virtus Convertible & Income Fund during the 3rd quarter worth about $36,000. Kingswood Wealth Advisors LLC acquired a new position in Virtus Convertible & Income Fund in the fourth quarter worth approximately $37,000. Meridian Wealth Management LLC bought a new position in Virtus Convertible & Income Fund during the fourth quarter valued at approximately $43,000. PVG Asset Management Corp acquired a new stake in Virtus Convertible & Income Fund in the third quarter valued at approximately $45,000. Finally, Larson Financial Group LLC grew its position in Virtus Convertible & Income Fund by 226.1% in the third quarter. Larson Financial Group LLC now owns 15,000 shares of the investment management company’s stock worth $52,000 after acquiring an additional 10,400 shares in the last quarter.

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.