Virtus Convertible & Income Fund (NYSE:NCV) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Virtus Convertible & Income Fund (NYSE:NCV)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.86 and traded as low as $12.27. Virtus Convertible & Income Fund shares last traded at $12.37, with a volume of 72,200 shares changing hands.

Virtus Convertible & Income Fund Stock Down 1.0 %

The business’s fifty day moving average is $13.22 and its 200-day moving average is $13.84.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a $0.136 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.63 annualized dividend and a dividend yield of 13.20%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

A number of institutional investors have recently made changes to their positions in NCV. Advisors Asset Management Inc. increased its position in shares of Virtus Convertible & Income Fund by 0.8% during the fourth quarter. Advisors Asset Management Inc. now owns 2,640,144 shares of the investment management company’s stock worth $9,161,000 after buying an additional 20,417 shares during the period. Congress Park Capital LLC lifted its stake in shares of Virtus Convertible & Income Fund by 11.5% in the 4th quarter. Congress Park Capital LLC now owns 1,743,406 shares of the investment management company’s stock valued at $6,050,000 after purchasing an additional 180,077 shares during the period. LPL Financial LLC boosted its position in shares of Virtus Convertible & Income Fund by 34.5% during the 4th quarter. LPL Financial LLC now owns 1,037,074 shares of the investment management company’s stock valued at $3,599,000 after purchasing an additional 265,938 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Virtus Convertible & Income Fund by 1.5% during the fourth quarter. Ameriprise Financial Inc. now owns 817,880 shares of the investment management company’s stock worth $2,838,000 after purchasing an additional 11,697 shares during the period. Finally, Park Avenue Securities LLC increased its holdings in Virtus Convertible & Income Fund by 3.8% in the fourth quarter. Park Avenue Securities LLC now owns 418,672 shares of the investment management company’s stock worth $1,453,000 after purchasing an additional 15,247 shares in the last quarter.

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.