Allianzgi Convertible & Income Fund (NYSE:NCV) Shares Cross Below Fifty Day Moving Average of $5.65

Allianzgi Convertible & Income Fund (NYSE:NCV)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.65 and traded as low as $5.63. Allianzgi Convertible & Income Fund shares last traded at $5.66, with a volume of 3,198 shares changing hands.

The stock has a fifty day simple moving average of $5.65 and a 200 day simple moving average of $5.67.

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.0525 per share. The ex-dividend date is Wednesday, December 11th. This is a boost from Allianzgi Convertible & Income Fund’s previous monthly dividend of $0.05. This represents a $0.63 dividend on an annualized basis and a yield of 11.07%.

A number of large investors have recently bought and sold shares of NCV. Cohen & Steers Inc. raised its holdings in Allianzgi Convertible & Income Fund by 282.6% during the second quarter. Cohen & Steers Inc. now owns 559,524 shares of the investment management company’s stock valued at $3,161,000 after acquiring an additional 413,266 shares during the period. Morgan Stanley raised its holdings in Allianzgi Convertible & Income Fund by 3.7% during the second quarter. Morgan Stanley now owns 2,709,039 shares of the investment management company’s stock valued at $15,306,000 after acquiring an additional 96,613 shares during the period. Mid Atlantic Financial Management Inc. ADV raised its holdings in Allianzgi Convertible & Income Fund by 38.1% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 193,507 shares of the investment management company’s stock valued at $1,093,000 after acquiring an additional 53,341 shares during the period. Bank of America Corp DE raised its holdings in Allianzgi Convertible & Income Fund by 3.0% during the second quarter. Bank of America Corp DE now owns 1,531,875 shares of the investment management company’s stock valued at $8,655,000 after acquiring an additional 44,124 shares during the period. Finally, Doliver Advisors LP bought a new stake in Allianzgi Convertible & Income Fund during the third quarter valued at about $238,000.

About Allianzgi Convertible & Income Fund (NYSE:NCV)

AllianzGI 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.

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