Virtus Convertible & Income Fund (NYSE:NCV) Shares Pass Below 200-Day Moving Average – Time to Sell?

Virtus Convertible & Income Fund (NYSE:NCV)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.00 and traded as low as $12.99. Virtus Convertible & Income Fund shares last traded at $13.16, with a volume of 78,775 shares trading hands.

Virtus Convertible & Income Fund Price Performance

The company has a 50 day simple moving average of $13.87 and a 200 day simple moving average of $14.00.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a $0.136 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 12.35%. The ex-dividend date of this dividend is Thursday, June 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC raised its stake in Virtus Convertible & Income Fund by 4.0% in the 4th quarter. Private Advisor Group LLC now owns 256,410 shares of the investment management company’s stock valued at $890,000 after acquiring an additional 9,846 shares during the period. Good Life Advisors LLC lifted its stake in shares of Virtus Convertible & Income Fund by 84.5% during the 4th quarter. Good Life Advisors LLC now owns 30,861 shares of the investment management company’s stock worth $107,000 after buying an additional 14,136 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Virtus Convertible & Income Fund during the 4th quarter worth about $37,000. Atomi Financial Group Inc. grew its stake in Virtus Convertible & Income Fund by 15.2% in the 4th quarter. Atomi Financial Group Inc. now owns 25,874 shares of the investment management company’s stock valued at $90,000 after buying an additional 3,413 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Virtus Convertible & Income Fund by 3.8% in the 4th quarter. Park Avenue Securities LLC now owns 418,672 shares of the investment management company’s stock valued at $1,453,000 after acquiring an additional 15,247 shares during the period.

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.