Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Passes Above 200-Day Moving Average – What’s Next?

by · The Markets Daily

Virtus Diversified Income & Convertible Fund (NYSE:ACV – Get Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.25 and traded as high as $21.83. Virtus Diversified Income & Convertible Fund shares last traded at $21.81, with a volume of 20,221 shares.

Virtus Diversified Income & Convertible Fund Price Performance

The business’s 50-day moving average is $21.37 and its two-hundred day moving average is $21.25.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, December 12th. This represents a $2.16 annualized dividend and a yield of 9.76%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC boosted its stake in shares of Virtus Diversified Income & Convertible Fund by 275.9% in the third quarter. Wolverine Asset Management LLC now owns 121,373 shares of the consumer goods maker’s stock valued at $2,605,000 after buying an additional 89,088 shares in the last quarter. Shaker Financial Services LLC lifted its holdings in Virtus Diversified Income & Convertible Fund by 137.6% in the third quarter. Shaker Financial Services LLC now owns 50,876 shares of the consumer goods maker’s stock valued at $1,092,000 after acquiring an additional 29,467 shares during the period. Raymond James & Associates lifted its holdings in Virtus Diversified Income & Convertible Fund by 5.0% in the third quarter. Raymond James & Associates now owns 136,344 shares of the consumer goods maker’s stock valued at $2,926,000 after acquiring an additional 6,441 shares during the period. International Assets Investment Management LLC boosted its position in shares of Virtus Diversified Income & Convertible Fund by 2,101.5% during the 3rd 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 in the last quarter. Finally, World Equity Group Inc. acquired a new position in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter worth $313,000.

About Virtus Diversified Income & Convertible Fund

(Get Free Report)

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.

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