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

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.76 and traded as high as $26.20. Virtus Diversified Income & Convertible Fund shares last traded at $25.8360, with a volume of 26,261 shares trading hands.

Virtus Diversified Income & Convertible Fund Stock Down 0.6%

The company’s 50 day moving average price is $27.25 and its 200-day moving average price is $25.78.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 11th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a yield of 8.5%. Virtus Diversified Income & Convertible Fund’s payout ratio is 153.94%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new position in shares of Virtus Diversified Income & Convertible Fund during the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the third quarter valued at approximately $48,000. International Assets Investment Management LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the fourth quarter valued at approximately $73,000. Kestra Advisory Services LLC bought a new stake in Virtus Diversified Income & Convertible Fund during the fourth quarter worth $144,000. Finally, Cornerstone Advisors LLC bought a new stake in Virtus Diversified Income & Convertible Fund during the third quarter worth $178,000.

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.