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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.89 and traded as high as $26.97. Virtus Diversified Income & Convertible Fund shares last traded at $26.65, with a volume of 22,624 shares.

Virtus Diversified Income & Convertible Fund Stock Performance

The firm’s 50-day moving average is $27.49 and its 200 day moving average is $26.88.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be issued a $0.18 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 8.1%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 153.94%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. World Equity Group Inc. grew its stake in Virtus Diversified Income & Convertible Fund by 22.0% during the second quarter. World Equity Group Inc. now owns 41,950 shares of the consumer goods maker’s stock worth $1,189,000 after buying an additional 7,558 shares during the period. Bank of America Corp DE boosted its position in Virtus Diversified Income & Convertible Fund by 5.9% during the 1st quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock worth $2,531,000 after purchasing an additional 5,804 shares during the period. Royal Bank of Canada increased its holdings in Virtus Diversified Income & Convertible Fund by 6.5% in the 1st quarter. Royal Bank of Canada now owns 73,971 shares of the consumer goods maker’s stock valued at $1,797,000 after purchasing an additional 4,509 shares in the last quarter. D.A. Davidson & CO. raised its position in Virtus Diversified Income & Convertible Fund by 56.5% in the first quarter. D.A. Davidson & CO. now owns 14,198 shares of the consumer goods maker’s stock valued at $345,000 after purchasing an additional 5,126 shares during the period. Finally, Apollon Wealth Management LLC raised its position in Virtus Diversified Income & Convertible Fund by 7.0% in the first quarter. Apollon Wealth Management LLC now owns 25,623 shares of the consumer goods maker’s stock valued at $623,000 after purchasing an additional 1,671 shares during the period.

Virtus Diversified Income & Convertible Fund Company Profile

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.