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

Virtus Convertible & Income Fund (NYSE:NCV) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.98 and traded as low as $13.05. Virtus Convertible & Income Fund shares last traded at $13.11, with a volume of 105,617 shares changing hands.

Virtus Convertible & Income Fund Stock Performance

The business’s 50-day moving average is $13.78 and its two-hundred day moving average is $13.98.

Virtus Convertible & Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $0.136 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.63 dividend on an annualized basis and a yield of 12.59%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its stake in Virtus Convertible & Income Fund by 3.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 77,765 shares of the investment management company’s stock valued at $270,000 after acquiring an additional 2,470 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Virtus Convertible & Income Fund by 15.2% during the fourth quarter. Atomi Financial Group Inc. now owns 25,874 shares of the investment management company’s stock valued at $90,000 after acquiring an additional 3,413 shares during the period. Envestnet Asset Management Inc. lifted its stake in Virtus Convertible & Income Fund by 1.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 412,716 shares of the investment management company’s stock worth $1,432,000 after acquiring an additional 4,509 shares in the last quarter. Cornerstone Advisors LLC boosted its position in Virtus Convertible & Income Fund by 40.3% during the 4th quarter. Cornerstone Advisors LLC now owns 26,100 shares of the investment management company’s stock worth $91,000 after acquiring an additional 7,497 shares during the period. Finally, Private Advisor Group LLC grew its stake in Virtus Convertible & Income Fund by 4.0% during the 4th quarter. Private Advisor Group LLC now owns 256,410 shares of the investment management company’s stock valued at $890,000 after acquiring an additional 9,846 shares in 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.