Virtus Global Multi-Sector Income Fund (NYSE:VGI) Stock Price Up 0.6% – Should You Buy?

Virtus Global Multi-Sector Income Fund (NYSE:VGI)’s share price shot up 0.6% on Thursday . The stock traded as high as $7.40 and last traded at $7.3750. 37,428 shares were traded during mid-day trading, a decline of 9% from the average session volume of 41,099 shares. The stock had previously closed at $7.33.

Virtus Global Multi-Sector Income Fund Stock Up 0.6%

The business has a fifty day moving average of $7.46 and a two-hundred day moving average of $7.64.

Virtus Global Multi-Sector Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be given a $0.08 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 13.0%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC grew 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 valued at $299,000 after acquiring an additional 8,054 shares during the period. Stephens Inc. AR raised its position in Virtus Global Multi-Sector Income Fund by 11.4% during the first quarter. Stephens Inc. AR now owns 75,159 shares of the company’s stock worth $555,000 after acquiring an additional 7,670 shares during the period. Worth Asset Management LLC raised its position in Virtus Global Multi-Sector Income Fund by 116.9% during the first quarter. Worth Asset Management LLC now owns 32,641 shares of the company’s stock worth $241,000 after acquiring an additional 17,592 shares during the period. Sit Investment Associates Inc. lifted its holdings 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 in the last quarter. Finally, Fiera Capital Corp lifted its holdings in Virtus Global Multi-Sector Income Fund by 41.8% during 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.

About Virtus Global Multi-Sector Income Fund

The Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a diversified, closed-end management investment company that seeks to provide investors with a high level of current income by investing globally across multiple asset classes. Trading on the New York Stock Exchange, VGI is managed by a team of investment professionals at Virtus Investment Partners who draw on global research capabilities to construct a portfolio of income-producing securities.

The fund’s primary strategy focuses on identifying opportunities in both developed and emerging markets.