Virtus Diversified Income & Convertible Fund (NYSE:ACV) Share Price Passes Above 200-Day Moving Average – What’s Next?

Virtus Diversified Income & Convertible Fund (NYSE:ACV) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.67 and traded as high as $28.44. Virtus Diversified Income & Convertible Fund shares last traded at $28.20, with a volume of 15,634 shares.

Virtus Diversified Income & Convertible Fund Trading Up 0.0%

The business’s fifty day simple moving average is $26.99 and its 200-day simple moving average is $26.67.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 153.94%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors have recently bought and sold shares of the stock. PMG Family Office LLC grew its position in Virtus Diversified Income & Convertible Fund by 1.5% in the first quarter. PMG Family Office LLC now owns 43,023 shares of the consumer goods maker’s stock worth $1,045,000 after acquiring an additional 639 shares in the last quarter. Gilliland Jeter Wealth Management LLC raised its position in Virtus Diversified Income & Convertible Fund by 2.9% during the fourth quarter. Gilliland Jeter Wealth Management LLC now owns 25,098 shares of the consumer goods maker’s stock valued at $660,000 after purchasing an additional 700 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at approximately $27,000. Commonwealth Equity Services LLC lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 11.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,233 shares of the consumer goods maker’s stock valued at $348,000 after purchasing an additional 1,378 shares during the last quarter. Finally, CENTRAL TRUST Co purchased a new position in shares of Virtus Diversified Income & Convertible Fund in the 1st quarter worth approximately $36,000.

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.