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

Virtus Convertible & Income Fund (NYSE:NCVGet Free Report)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $15.15 and traded as high as $15.69. Virtus Convertible & Income Fund shares last traded at $15.58, with a volume of 127,873 shares changing hands.

Virtus Convertible & Income Fund Trading Down 0.3%

The stock has a fifty day simple moving average of $15.15 and a 200 day simple moving average of $14.20.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.136 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a c) dividend on an annualized basis and a yield of 10.5%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of NCV. Penserra Capital Management LLC purchased a new position in shares of Virtus Convertible & Income Fund during the first quarter valued at about $7,775,000. Congress Park Capital LLC purchased a new position in shares of Virtus Convertible & Income Fund during the second quarter valued at about $7,722,000. Wolverine Asset Management LLC purchased a new position in shares of Virtus Convertible & Income Fund during the first quarter valued at about $2,211,000. Cornerstone Advisors LLC purchased a new position in shares of Virtus Convertible & Income Fund during the second quarter valued at about $1,580,000. Finally, Guggenheim Capital LLC purchased a new position in shares of Virtus Convertible & Income Fund during the second quarter valued at about $1,427,000.

Virtus Convertible & Income Fund Company Profile

(Get Free Report)

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.

Further Reading

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