Virtus Global Multi-Sector Income Fund (NYSE:VGI) Stock Price Up 0.6% – Still a Buy?

Virtus Global Multi-Sector Income Fund (NYSE:VGI)’s share price traded up 0.6% on Thursday . The company traded as high as $7.40 and last traded at $7.3750. 37,428 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 41,099 shares. The stock had previously closed at $7.33.

Virtus Global Multi-Sector Income Fund Stock Up 0.5%

The firm’s 50-day simple moving average is $7.46 and its 200-day simple moving average is $7.64.

Virtus Global Multi-Sector Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be paid a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 13.0%. The ex-dividend date is Thursday, August 13th.

Hedge Funds Weigh In On Virtus Global Multi-Sector Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in VGI. Comerica Bank lifted its position in shares of Virtus Global Multi-Sector Income Fund by 28.9% in the 3rd quarter. Comerica Bank now owns 5,818 shares of the company’s stock worth $46,000 after acquiring an additional 1,303 shares during the period. CoreCap Advisors LLC raised its stake in shares of Virtus Global Multi-Sector Income Fund by 1.2% in the fourth quarter. CoreCap Advisors LLC now owns 146,133 shares of the company’s stock valued at $1,146,000 after purchasing an additional 1,775 shares in the last quarter. Integrity Advisory Solutions LLC raised its stake in shares of Virtus Global Multi-Sector Income Fund by 17.1% in the fourth quarter. Integrity Advisory Solutions LLC now owns 13,386 shares of the company’s stock valued at $105,000 after purchasing an additional 1,959 shares in the last quarter. SeaCrest Wealth Management LLC lifted its position in Virtus Global Multi-Sector Income Fund by 5.0% in the third quarter. SeaCrest Wealth Management LLC now owns 48,704 shares of the company’s stock worth $389,000 after purchasing an additional 2,340 shares during the period. Finally, Founders Financial Alliance LLC lifted its position in Virtus Global Multi-Sector Income Fund by 14.9% in the fourth quarter. Founders Financial Alliance LLC now owns 18,526 shares of the company’s stock worth $145,000 after purchasing an additional 2,404 shares during the period.

Virtus Global Multi-Sector Income Fund Company Profile

The Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a diversified, closed-end management investment company that seeks to provide investors with a high level of current income by investing globally across multiple asset classes. Trading on the New York Stock Exchange, VGI is managed by a team of investment professionals at Virtus Investment Partners who draw on global research capabilities to construct a portfolio of income-producing securities.

The fund’s primary strategy focuses on identifying opportunities in both developed and emerging markets.