Virtus Global Multi-Sector Income Fund (NYSE:VGI) Shares Up 0.1% – Time to Buy?

Virtus Global Multi-Sector Income Fund (NYSE:VGI)’s share price traded up 0.1% during mid-day trading on Wednesday. The stock traded as high as $6.64 and last traded at $6.6250. Approximately 99,354 shares changed hands during trading, an increase of 140% from the average daily volume of 41,432 shares. The stock had previously closed at $6.62.

Virtus Global Multi-Sector Income Fund Price Performance

The firm’s fifty day moving average price is $6.99 and its 200 day moving average price is $7.27.

Virtus Global Multi-Sector Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be paid a $0.08 dividend. The ex-dividend date is Thursday, November 12th. This represents a $0.96 annualized dividend and a yield of 14.5%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VGI. Susquehanna International Group LLP bought a new position in Virtus Global Multi-Sector Income Fund during the second quarter valued at approximately $124,000. Van Diest Capital LLC grew its holdings in Virtus Global Multi-Sector Income Fund by 46.4% during the 1st quarter. Van Diest Capital LLC now owns 18,046 shares of the company’s stock valued at $133,000 after buying an additional 5,716 shares in the last quarter. Kovack Advisors Inc. increased its stake in Virtus Global Multi-Sector Income Fund by 17.1% in the 2nd quarter. Kovack Advisors Inc. now owns 18,049 shares of the company’s stock worth $135,000 after acquiring an additional 2,638 shares during the last quarter. Kestra Advisory Services LLC increased its stake in Virtus Global Multi-Sector Income Fund by 24.8% in the 1st quarter. Kestra Advisory Services LLC now owns 40,577 shares of the company’s stock worth $299,000 after acquiring an additional 8,054 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. increased its stake in Virtus Global Multi-Sector Income Fund by 3.5% in the 2nd quarter. Total Wealth Planning & Management Inc. now owns 46,936 shares of the company’s stock worth $352,000 after acquiring an additional 1,605 shares during the last quarter.

About Virtus Global Multi-Sector Income Fund

Virtus Global Multi-Sector Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the ticker symbol VGI. The fund seeks to provide investors with a high level of current income while also pursuing long-term total return through investments in a diversified portfolio of fixed-income securities.

The fund invests across multiple sectors of the global bond market, including government and sovereign debt, corporate bonds, high-yield securities, emerging-market debt and other income-producing instruments.