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

Shares of Virtus Diversified Income & Convertible Fund (NYSE:ACV) crossed 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.

Virtus Diversified Income & Convertible Fund Stock Performance

The firm has a fifty day moving average price of $21.96 and a 200 day moving average price of $21.33.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business 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 9.82%. The ex-dividend date of this dividend is Thursday, March 13th. Virtus Diversified Income & Convertible Fund’s payout ratio is presently 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

A number of institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC raised its position in shares of Virtus Diversified Income & Convertible Fund by 275.9% during the third quarter. Wolverine Asset Management LLC now owns 121,373 shares of the consumer goods maker’s stock worth $2,605,000 after acquiring an additional 89,088 shares during the last quarter. International Assets Investment Management LLC increased its position in Virtus Diversified Income & Convertible Fund by 2,101.5% in the third quarter. International Assets Investment Management LLC now owns 52,947 shares of the consumer goods maker’s stock worth $1,136,000 after purchasing an additional 50,542 shares during the period. Landscape Capital Management L.L.C. raised its holdings in Virtus Diversified Income & Convertible Fund by 212.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 44,357 shares of the consumer goods maker’s stock worth $952,000 after purchasing an additional 30,169 shares during the last quarter. Shaker Financial Services LLC raised its holdings in Virtus Diversified Income & Convertible Fund by 137.6% during the 3rd quarter. Shaker Financial Services LLC now owns 50,876 shares of the consumer goods maker’s stock worth $1,092,000 after purchasing an additional 29,467 shares during the last quarter. Finally, World Equity Group Inc. acquired a new position in Virtus Diversified Income & Convertible Fund during the 3rd quarter valued at about $313,000.

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.