Virtus Global Multi-Sector Income Fund (NYSE:VGI) Stock Price Down 2.3% – Here’s What Happened

Shares of Virtus Global Multi-Sector Income Fund (NYSE:VGI) dropped 2.3% on Thursday. The stock traded as low as $6.74 and last traded at $6.79. Approximately 87,984 shares were traded during mid-day trading, an increase of 118% from the average daily volume of 40,369 shares. The stock had previously closed at $6.95.

Virtus Global Multi-Sector Income Fund Stock Down 2.3%

The business has a fifty day simple moving average of $7.24 and a 200-day simple moving average of $7.38.

Virtus Global Multi-Sector Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 14.1%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. lifted its position in Virtus Global Multi-Sector Income Fund by 8.0% during the 4th quarter. Sit Investment Associates Inc. now owns 2,057,760 shares of the company’s stock valued at $16,133,000 after acquiring an additional 151,690 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Virtus Global Multi-Sector Income Fund by 106.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 123,258 shares of the company’s stock worth $924,000 after purchasing an additional 63,666 shares during the period. Fiera Capital Corp increased its stake in shares of 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. Total Wealth Planning & Management Inc. bought a new position in shares of Virtus Global Multi-Sector Income Fund during the fourth quarter valued at approximately $304,000. Finally, Worth Asset Management LLC lifted its holdings in shares of 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 valued at $241,000 after purchasing an additional 17,592 shares during the last quarter.

Virtus Global Multi-Sector Income Fund Company Profile

Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund invests across global fixed-income markets rather than concentrating on a single bond sector or geographic region.

Its portfolio may include corporate bonds, government and sovereign debt, emerging-market securities, mortgage- and asset-backed securities, bank loans, and other income-producing credit instruments.