Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Pass Above 200 Day Moving Average – Time to Sell?

Virtus Diversified Income & Convertible Fund (NYSE:ACV) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.33 and traded as high as $22.09. Virtus Diversified Income & Convertible Fund shares last traded at $21.99, with a volume of 35,366 shares trading hands.

Virtus Diversified Income & Convertible Fund Price Performance

The business has a 50 day moving average of $21.96 and a 200 day moving average of $21.33.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.18 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.82%. The ex-dividend date of this dividend is Thursday, March 13th. Virtus Diversified Income & Convertible Fund’s payout ratio is 130.91%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in Virtus Diversified Income & Convertible Fund by 5.0% during the third quarter. Raymond James & Associates now owns 136,344 shares of the consumer goods maker’s stock valued at $2,926,000 after purchasing an additional 6,441 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in Virtus Diversified Income & Convertible Fund by 275.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 121,373 shares of the consumer goods maker’s stock valued at $2,605,000 after buying an additional 89,088 shares in the last quarter. International Assets Investment Management LLC grew its position in Virtus Diversified Income & Convertible Fund by 2,101.5% in the third quarter. International Assets Investment Management LLC now owns 52,947 shares of the consumer goods maker’s stock valued at $1,136,000 after acquiring an additional 50,542 shares during the period. Shaker Financial Services LLC raised its stake in Virtus Diversified Income & Convertible Fund by 137.6% during the third quarter. Shaker Financial Services LLC now owns 50,876 shares of the consumer goods maker’s stock worth $1,092,000 after acquiring an additional 29,467 shares in the last quarter. Finally, Landscape Capital Management L.L.C. lifted its holdings in shares of Virtus Diversified Income & Convertible Fund by 212.6% during the third quarter. Landscape Capital Management L.L.C. now owns 44,357 shares of the consumer goods maker’s stock valued at $952,000 after acquiring an additional 30,169 shares during the period.

About Virtus Diversified Income & Convertible Fund

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.