Virtus Convertible & Income Fund (NYSE:NCV) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Virtus Convertible & Income Fund (NYSE:NCV)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.86 and traded as low as $12.27. Virtus Convertible & Income Fund shares last traded at $12.37, with a volume of 72,200 shares traded.

Virtus Convertible & Income Fund Price Performance

The company has a 50-day simple moving average of $13.26 and a two-hundred day simple moving average of $13.85.

Virtus Convertible & Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $0.136 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.63 annualized dividend and a yield of 13.19%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in shares of Virtus Convertible & Income Fund in the 3rd quarter worth approximately $36,000. Kingswood Wealth Advisors LLC purchased a new stake in Virtus Convertible & Income Fund in the 4th quarter worth about $37,000. Doliver Advisors LP bought a new stake in Virtus Convertible & Income Fund in the 1st quarter valued at about $140,000. Meridian Wealth Management LLC purchased a new stake in Virtus Convertible & Income Fund during the fourth quarter valued at about $43,000. Finally, PVG Asset Management Corp purchased a new stake in shares of Virtus Convertible & Income Fund during the 3rd quarter valued at approximately $45,000.

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.