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

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.40 and traded as high as $28.37. Virtus Diversified Income & Convertible Fund shares last traded at $28.0610, with a volume of 41,106 shares trading hands.

Virtus Diversified Income & Convertible Fund Price Performance

The stock’s 50-day moving average price is $26.07 and its 200-day moving average price is $26.41.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 11th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a c) annualized dividend and a yield of 7.7%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 153.94%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several hedge funds have recently bought and sold shares of the company. Guggenheim Capital LLC increased its holdings in Virtus Diversified Income & Convertible Fund by 19.7% in the 4th quarter. Guggenheim Capital LLC now owns 361,160 shares of the consumer goods maker’s stock valued at $9,495,000 after buying an additional 59,335 shares during the period. LPL Financial LLC increased its holdings in Virtus Diversified Income & Convertible Fund by 1.5% in the 4th quarter. LPL Financial LLC now owns 298,852 shares of the consumer goods maker’s stock valued at $7,857,000 after buying an additional 4,349 shares during the period. Advisors Asset Management Inc. increased its holdings in Virtus Diversified Income & Convertible Fund by 13.3% in the 4th quarter. Advisors Asset Management Inc. now owns 222,978 shares of the consumer goods maker’s stock valued at $5,862,000 after buying an additional 26,251 shares during the period. Raymond James Financial Inc. increased its holdings in Virtus Diversified Income & Convertible Fund by 10.1% in the 3rd quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock valued at $3,425,000 after buying an additional 13,064 shares during the period. Finally, Bank of America Corp DE increased its holdings in Virtus Diversified Income & Convertible Fund by 5.9% in the 1st quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock valued at $2,531,000 after buying an additional 5,804 shares during the period.

About Virtus Diversified Income & Convertible Fund

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.