Virtus Convertible & Income Fund (NYSE:NCV) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of Virtus Convertible & Income Fund (NYSE:NCV) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.94 and traded as low as $11.79. Virtus Convertible & Income Fund shares last traded at $11.89, with a volume of 185,632 shares changing hands.

Virtus Convertible & Income Fund Stock Performance

The stock’s 50 day moving average price is $13.61 and its two-hundred day moving average price is $13.94.

Virtus Convertible & Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.136 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.63 annualized dividend and a dividend yield of 13.73%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in Virtus Convertible & Income Fund in the third quarter valued at $36,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Virtus Convertible & Income Fund during the 4th quarter worth about $37,000. Meridian Wealth Management LLC acquired a new stake in shares of Virtus Convertible & Income Fund in the fourth quarter worth approximately $43,000. PVG Asset Management Corp acquired a new stake in shares of Virtus Convertible & Income Fund in the third quarter worth approximately $45,000. Finally, SVB Wealth LLC acquired a new position in Virtus Convertible & Income Fund during the fourth quarter worth approximately $77,000.

About Virtus Convertible & Income Fund

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.