Virtus Convertible & Income Fund (NYSE:NCV) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Virtus Convertible & Income Fund (NYSE:NCV)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.35 and traded as low as $16.15. Virtus Convertible & Income Fund shares last traded at $16.5830, with a volume of 584,504 shares.

Virtus Convertible & Income Fund Stock Up 1.4%

The business’s fifty day simple moving average is $17.20 and its two-hundred day simple moving average is $16.35.

Virtus Convertible & Income Fund Announces Dividend

The business 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 dividend of $0.136 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Saba Capital Management L.P. increased its stake in shares of Virtus Convertible & Income Fund by 373.3% in the 1st quarter. Saba Capital Management L.P. now owns 723,578 shares of the investment management company’s stock valued at $10,767,000 after acquiring an additional 570,704 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new position in Virtus Convertible & Income Fund during the 4th quarter worth approximately $2,641,000. Guggenheim Capital LLC boosted its stake in Virtus Convertible & Income Fund by 70.3% during the 4th quarter. Guggenheim Capital LLC now owns 337,948 shares of the investment management company’s stock worth $5,120,000 after acquiring an additional 139,536 shares during the last quarter. Congress Park Capital LLC grew its holdings in Virtus Convertible & Income Fund by 16.0% during the fourth quarter. Congress Park Capital LLC now owns 735,137 shares of the investment management company’s stock valued at $11,137,000 after purchasing an additional 101,287 shares during the period. Finally, Wealth Care LLC acquired a new position in Virtus Convertible & Income Fund during the first quarter valued at approximately $1,016,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.