Virtus Convertible & Income Fund (NYSE:NCV) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Shares of Virtus Convertible & Income Fund (NYSE:NCV) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.17 and traded as high as $14.18. Virtus Convertible & Income Fund shares last traded at $14.16, with a volume of 157,120 shares traded.

Virtus Convertible & Income Fund Trading Up 0.1 %

The stock’s 50-day moving average is $14.15 and its 200 day moving average is $14.03.

Virtus Convertible & Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $0.136 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Virtus Convertible & Income Fund’s previous monthly dividend of $0.03. This represents a $1.63 dividend on an annualized basis and a dividend yield of 11.49%.

Institutional Trading of Virtus Convertible & Income Fund

A number of institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC acquired a new position in Virtus Convertible & Income Fund in the 3rd quarter worth about $8,974,000. Raymond James Financial Inc. acquired a new position in Virtus Convertible & Income Fund in the fourth quarter worth approximately $970,000. LPL Financial LLC raised its position in Virtus Convertible & Income Fund by 34.5% during the fourth quarter. LPL Financial LLC now owns 1,037,074 shares of the investment management company’s stock valued at $3,599,000 after acquiring an additional 265,938 shares in the last quarter. Congress Park Capital LLC raised its position in Virtus Convertible & Income Fund by 11.5% during the fourth quarter. Congress Park Capital LLC now owns 1,743,406 shares of the investment management company’s stock valued at $6,050,000 after acquiring an additional 180,077 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Virtus Convertible & Income Fund in the fourth quarter valued at approximately $334,000.

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.