Virtus Convertible & Income Fund (NYSE:NCV) Stock Passes Above Fifty Day Moving Average – Should You Sell?

Virtus Convertible & Income Fund (NYSE:NCV)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $3.57 and traded as high as $3.67. Virtus Convertible & Income Fund shares last traded at $3.64, with a volume of 393,928 shares changing hands.

Virtus Convertible & Income Fund Stock Performance

The stock has a 50-day moving average of $3.57 and a 200 day moving average of $3.49.

Virtus Convertible & Income Fund Announces Dividend

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 given a dividend of $0.136 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.63 annualized dividend and a dividend yield of 44.90%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of NCV. Atria Wealth Solutions Inc. grew its position in Virtus Convertible & Income Fund by 32.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 40,340 shares of the investment management company’s stock worth $140,000 after acquiring an additional 9,895 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of Virtus Convertible & Income Fund during the 4th quarter worth $37,000. Atomi Financial Group Inc. increased its position in shares of Virtus Convertible & Income Fund by 15.2% during the 4th quarter. Atomi Financial Group Inc. now owns 25,874 shares of the investment management company’s stock worth $90,000 after purchasing an additional 3,413 shares during the last quarter. Congress Park Capital LLC raised its holdings in 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 buying an additional 180,077 shares during the period. Finally, Park Avenue Securities LLC lifted its position 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 valued at $1,453,000 after buying an additional 15,247 shares during the last quarter.

Virtus Convertible & Income Fund Company Profile

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.