Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.59 and traded as high as $23.12. Virtus Diversified Income & Convertible Fund shares last traded at $22.97, with a volume of 35,311 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The firm has a 50-day moving average of $22.47 and a two-hundred day moving average of $21.59.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $0.18 dividend. The ex-dividend date is Thursday, March 13th. This represents a $2.16 annualized dividend and a yield of 9.40%. Virtus Diversified Income & Convertible Fund’s payout ratio is 130.91%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates grew its position in Virtus Diversified Income & Convertible Fund by 5.0% in the third quarter. Raymond James & Associates now owns 136,344 shares of the consumer goods maker’s stock worth $2,926,000 after acquiring an additional 6,441 shares during the period. Wolverine Asset Management LLC boosted its position in shares of Virtus Diversified Income & Convertible Fund by 275.9% during the third quarter. Wolverine Asset Management LLC now owns 121,373 shares of the consumer goods maker’s stock worth $2,605,000 after buying an additional 89,088 shares during the period. International Assets Investment Management LLC boosted its position in shares of Virtus Diversified Income & Convertible Fund by 2,101.5% during the third quarter. International Assets Investment Management LLC now owns 52,947 shares of the consumer goods maker’s stock worth $1,136,000 after buying an additional 50,542 shares during the period. Shaker Financial Services LLC boosted its position in shares of Virtus Diversified Income & Convertible Fund by 137.6% during the third quarter. Shaker Financial Services LLC now owns 50,876 shares of the consumer goods maker’s stock worth $1,092,000 after buying an additional 29,467 shares during the period. Finally, Landscape Capital Management L.L.C. boosted its position in shares of Virtus Diversified Income & Convertible Fund by 212.6% during the third quarter. Landscape Capital Management L.L.C. now owns 44,357 shares of the consumer goods maker’s stock worth $952,000 after buying an additional 30,169 shares during the period.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus Diversified Income & Convertible Fund is a closed-ended balanced mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.