Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Virtus Diversified Income & Convertible Fund (NYSE:ACV) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.43 and traded as high as $22.64. Virtus Diversified Income & Convertible Fund shares last traded at $22.58, with a volume of 28,056 shares traded.

Virtus Diversified Income & Convertible Fund Stock Performance

The firm’s 50-day moving average price is $22.18 and its 200 day moving average price is $21.43.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, July 14th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a yield of 9.42%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is 141.82%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Elequin Capital LP bought a new stake in shares of Virtus Diversified Income & Convertible Fund in the first quarter valued at about $37,000. American National Bank & Trust acquired a new stake in Virtus Diversified Income & Convertible Fund during the 2nd quarter worth $48,000. Invesco Ltd. acquired a new position in shares of Virtus Diversified Income & Convertible Fund in the 1st quarter valued at $205,000. Shaker Financial Services LLC lifted its position in Virtus Diversified Income & Convertible Fund by 14.6% in the 1st quarter. Shaker Financial Services LLC now owns 42,344 shares of the consumer goods maker’s stock valued at $847,000 after acquiring an additional 5,391 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 18.4% in the 1st quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock valued at $1,310,000 after purchasing an additional 10,200 shares during the period.

Virtus Diversified Income & Convertible Fund Company Profile

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.