Virtus Diversified Income & Convertible Fund (NYSE:ACV) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.93 and traded as high as $27.37. Virtus Diversified Income & Convertible Fund shares last traded at $27.2240, with a volume of 51,942 shares traded.

Virtus Diversified Income & Convertible Fund Stock Performance

The firm’s 50 day moving average is $27.63 and its 200-day moving average is $26.93.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.18 per share. This represents a c) annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Thursday, August 13th. Virtus Diversified Income & Convertible Fund’s payout ratio is currently 153.94%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new stake in Virtus Diversified Income & Convertible Fund during the second quarter worth $27,000. CENTRAL TRUST Co acquired a new stake in shares of Virtus Diversified Income & Convertible Fund during the first quarter worth about $36,000. International Assets Investment Management LLC purchased a new position in Virtus Diversified Income & Convertible Fund in the 4th quarter valued at approximately $73,000. Kestra Advisory Services LLC purchased a new stake in Virtus Diversified Income & Convertible Fund during the 4th quarter worth about $144,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Virtus Diversified Income & Convertible Fund in the fourth quarter valued at approximately $205,000.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.