Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Virtus Diversified Income & Convertible Fund (NYSE:ACV) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.92 and traded as high as $27.85. Virtus Diversified Income & Convertible Fund shares last traded at $27.60, with a volume of 46,891 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Up 0.7%

The company has a 50 day moving average of $27.52 and a 200-day moving average of $26.92.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 13th will be given a $0.18 dividend. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, August 13th. Virtus Diversified Income & Convertible Fund’s payout ratio is currently 153.94%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Several hedge funds have recently made changes to their positions in the business. Emissary Wealth LLC purchased a new position in shares of Virtus Diversified Income & Convertible Fund in the fourth quarter valued at approximately $2,090,000. Guggenheim Capital LLC increased its stake in Virtus Diversified Income & Convertible Fund by 19.7% during 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 period. Advisors Asset Management Inc. lifted its holdings in 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 buying an additional 26,251 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in 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 buying an additional 13,064 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its position in Virtus Diversified Income & Convertible Fund by 82.8% in the 4th quarter. Apollon Wealth Management LLC now owns 23,952 shares of the consumer goods maker’s stock valued at $630,000 after buying an additional 10,847 shares during the period.

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.