Virtus Global Multi-Sector Income Fund (NYSE:VGI) Trading Up 0.1% – Should You Buy?

Virtus Global Multi-Sector Income Fund (NYSE:VGI) shot up 0.1% during mid-day trading on Friday . The company traded as high as $7.83 and last traded at $7.8050. 52,602 shares changed hands during trading, an increase of 38% from the average session volume of 38,040 shares. The stock had previously closed at $7.80.

Virtus Global Multi-Sector Income Fund Stock Performance

The firm’s 50 day moving average is $7.92 and its 200 day moving average is $7.83.

Virtus Global Multi-Sector Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date of this dividend is Thursday, November 13th.

Institutional Investors Weigh In On Virtus Global Multi-Sector Income Fund

Several hedge funds have recently added to or reduced their stakes in VGI. Comerica Bank grew its stake in shares of Virtus Global Multi-Sector Income Fund by 28.9% in the third quarter. Comerica Bank now owns 5,818 shares of the company’s stock worth $46,000 after acquiring an additional 1,303 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in Virtus Global Multi-Sector Income Fund by 5.0% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 48,704 shares of the company’s stock valued at $389,000 after purchasing an additional 2,340 shares during the last quarter. Integrity Advisory Solutions LLC bought a new stake in Virtus Global Multi-Sector Income Fund during the 3rd quarter valued at about $91,000. Fiera Capital Corp raised its holdings in Virtus Global Multi-Sector Income Fund by 17.0% in the third quarter. Fiera Capital Corp now owns 110,188 shares of the company’s stock worth $875,000 after buying an additional 16,001 shares during the last quarter. Finally, Founders Financial Alliance LLC purchased a new position in Virtus Global Multi-Sector Income Fund in the third quarter worth about $128,000.

Virtus Global Multi-Sector Income Fund Company Profile

Virtus Global Multi-Sector Income Fund is a closed ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc and Newfleet Asset Management, LLC. It invests in fixed income markets across the globe. The fund invests in both investment grade and high yield debt instruments issued by the government, corporate, bank loans, mortgage-backed securities, asset-backed securities, taxable municipal bonds, and tax-exempt municipal bonds.