Virtus Global Multi-Sector Income Fund (NYSE:VGI) Shares Down 2.3% – Should You Sell?

Virtus Global Multi-Sector Income Fund (NYSE:VGI) shares fell 2.3% on Thursday. The stock traded as low as $6.74 and last traded at $6.79. Approximately 87,984 shares were traded during trading, an increase of 118% from the average session volume of 40,369 shares. The stock had previously closed at $6.95.

Virtus Global Multi-Sector Income Fund Price Performance

The business’s fifty day moving average price is $7.23 and its 200-day moving average price is $7.38.

Virtus Global Multi-Sector Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 14.2%. The ex-dividend date of this dividend is Thursday, November 12th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new stake in shares of Virtus Global Multi-Sector Income Fund in the 2nd quarter valued at about $124,000. Closed End Fund Advisors Inc. bought a new position in shares of Virtus Global Multi-Sector Income Fund in the fourth quarter worth approximately $104,000. Fiera Capital Corp raised its stake in Virtus Global Multi-Sector Income Fund by 41.8% in the fourth quarter. Fiera Capital Corp now owns 156,236 shares of the company’s stock valued at $1,225,000 after purchasing an additional 46,048 shares in the last quarter. Sit Investment Associates Inc. lifted its position in Virtus Global Multi-Sector Income Fund by 8.0% during the fourth quarter. Sit Investment Associates Inc. now owns 2,057,760 shares of the company’s stock valued at $16,133,000 after purchasing an additional 151,690 shares during the last quarter. Finally, Stephens Inc. AR grew its stake in Virtus Global Multi-Sector Income Fund by 11.4% in the 1st quarter. Stephens Inc. AR now owns 75,159 shares of the company’s stock worth $555,000 after buying an additional 7,670 shares in the last quarter.

About Virtus Global Multi-Sector Income Fund

Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund invests across global fixed-income markets rather than concentrating on a single bond sector or geographic region.

Its portfolio may include corporate bonds, government and sovereign debt, emerging-market securities, mortgage- and asset-backed securities, bank loans, and other income-producing credit instruments.