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

Virtus Convertible & Income Fund (NYSE:NCV) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.35 and traded as low as $16.15. Virtus Convertible & Income Fund shares last traded at $16.5830, with a volume of 584,504 shares.

Virtus Convertible & Income Fund Price Performance

The firm has a 50-day moving average of $17.20 and a 200 day moving average of $16.35.

Virtus Convertible & Income 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 issued a $0.136 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a yield of 9.8%.

Institutional Trading of Virtus Convertible & Income Fund

Institutional investors have recently made changes to their positions in the stock. Saba Capital Management L.P. raised its holdings in Virtus Convertible & Income Fund by 373.3% during the first quarter. Saba Capital Management L.P. now owns 723,578 shares of the investment management company’s stock worth $10,767,000 after purchasing an additional 570,704 shares in the last quarter. Fifth Third Bancorp bought a new position in Virtus Convertible & Income Fund during the 1st quarter valued at $46,000. Private Advisor Group LLC increased its position in shares of Virtus Convertible & Income Fund by 21.4% during the 1st quarter. Private Advisor Group LLC now owns 164,322 shares of the investment management company’s stock valued at $2,445,000 after purchasing an additional 28,915 shares during the period. Wealth Care LLC acquired a new position in shares of Virtus Convertible & Income Fund during the 1st quarter valued at $1,016,000. Finally, Alteri Wealth LLC increased its position in shares of Virtus Convertible & Income Fund by 9.1% during the 4th quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock valued at $172,000 after purchasing an additional 946 shares during the period.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.