Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Cross Above 200 Day Moving Average – What’s Next?

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.87 and traded as high as $28.44. Virtus Diversified Income & Convertible Fund shares last traded at $28.3050, with a volume of 14,515 shares.

Virtus Diversified Income & Convertible Fund Price Performance

The stock has a fifty day moving average price of $27.58 and a 200-day moving average price of $26.87.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 7.6%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 153.94%.

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 stock. Emissary Wealth LLC bought a new position in Virtus Diversified Income & Convertible Fund in the fourth quarter worth about $2,090,000. Guggenheim Capital LLC grew its position in shares of Virtus Diversified Income & Convertible Fund by 19.7% in the 4th quarter. Guggenheim Capital LLC now owns 361,160 shares of the consumer goods maker’s stock worth $9,495,000 after buying an additional 59,335 shares during the last quarter. PMG Family Office LLC purchased a new position in shares of Virtus Diversified Income & Convertible Fund in the 3rd quarter worth approximately $1,058,000. Advisors Asset Management Inc. raised its stake in shares of Virtus Diversified Income & Convertible Fund by 13.3% during the 4th quarter. Advisors Asset Management Inc. now owns 222,978 shares of the consumer goods maker’s stock worth $5,862,000 after acquiring an additional 26,251 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Virtus Diversified Income & Convertible Fund by 10.1% during the 3rd quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock worth $3,425,000 after acquiring an additional 13,064 shares in the last quarter.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.