Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.28 and traded as high as $23.34. Virtus Diversified Income & Convertible Fund shares last traded at $22.84, with a volume of 29,078 shares changing hands.

Virtus Diversified Income & Convertible Fund Stock Performance

The business has a 50-day moving average of $21.88 and a 200 day moving average of $21.28.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, March 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.56%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 130.91%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

A number of hedge funds have recently bought and sold shares of ACV. International Assets Investment Management LLC acquired a new position in Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at $51,000. Commonwealth Equity Services LLC increased its stake in Virtus Diversified Income & Convertible Fund by 42.1% in the second quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock valued at $268,000 after purchasing an additional 3,745 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Virtus Diversified Income & Convertible Fund in the second quarter valued at $685,000. Shaker Financial Services LLC purchased a new position in Virtus Diversified Income & Convertible Fund during the second quarter worth about $454,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Virtus Diversified Income & Convertible Fund by 7.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 25,423 shares of the consumer goods maker’s stock worth $539,000 after buying an additional 1,864 shares during the last quarter.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund is a closed-ended balanced 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 the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.