Virtus Convertible & Income Fund (NYSE:NCV) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Virtus Convertible & Income Fund (NYSE:NCV) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.45 and traded as low as $3.45. Virtus Convertible & Income Fund shares last traded at $3.46, with a volume of 184,266 shares.

Virtus Convertible & Income Fund Stock Down 0.3 %

The firm has a fifty day moving average price of $3.55 and a 200-day moving average price of $3.45.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $0.136 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.63 annualized dividend and a yield of 47.17%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Several large investors have recently modified their holdings of NCV. International Assets Investment Management LLC increased its position in Virtus Convertible & Income Fund by 250.0% in the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after buying an additional 6,030 shares during the last quarter. MCF Advisors LLC purchased a new stake in Virtus Convertible & Income Fund in the 2nd quarter worth about $29,000. Sequoia Financial Advisors LLC purchased a new stake in Virtus Convertible & Income Fund in the 3rd quarter worth about $35,000. Jane Street Group LLC bought a new stake in Virtus Convertible & Income Fund in the 3rd quarter valued at about $36,000. Finally, PVG Asset Management Corp purchased a new stake in Virtus Convertible & Income Fund during the third quarter valued at about $45,000.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.