Virtus Convertible & Income Fund (NYSE:NCV) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Virtus Convertible & Income Fund (NYSE:NCV) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.46 and traded as low as $3.38. Virtus Convertible & Income Fund shares last traded at $3.43, with a volume of 654,012 shares changing hands.

Virtus Convertible & Income Fund Trading Down 1.2 %

The firm has a 50-day simple moving average of $3.56 and a 200-day simple moving average of $3.46.

Virtus Convertible & Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.136 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.63 annualized dividend and a yield of 47.58%.

Institutional Trading of Virtus Convertible & Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of NCV. Penserra Capital Management LLC bought a new stake in Virtus Convertible & Income Fund during the 3rd quarter valued at $8,974,000. Congress Park Capital LLC lifted its holdings in shares of Virtus Convertible & Income Fund by 46.8% during the 3rd quarter. Congress Park Capital LLC now owns 1,563,329 shares of the investment management company’s stock valued at $5,472,000 after purchasing an additional 498,112 shares during the last quarter. Cornerstone Advisors LLC lifted its holdings in shares of Virtus Convertible & Income Fund by 17.3% during the 2nd quarter. Cornerstone Advisors LLC now owns 919,074 shares of the investment management company’s stock valued at $3,005,000 after purchasing an additional 135,268 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Virtus Convertible & Income Fund during the 2nd quarter valued at $307,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Virtus Convertible & Income Fund by 2.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,619,727 shares of the investment management company’s stock valued at $9,169,000 after purchasing an additional 60,559 shares during 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.