Virtus Convertible & Income Fund (NYSE:NCV) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Virtus Convertible & Income Fund (NYSE:NCV)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.57 and traded as high as $3.67. Virtus Convertible & Income Fund shares last traded at $3.64, with a volume of 393,928 shares traded.

Virtus Convertible & Income Fund Price Performance

The stock’s 50-day simple moving average is $3.57 and its 200-day simple moving average is $3.49.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $0.136 dividend. This represents a $1.63 annualized dividend and a dividend yield of 44.90%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kingswood Wealth Advisors LLC purchased a new stake in shares of Virtus Convertible & Income Fund during the 4th quarter valued at $37,000. Atomi Financial Group Inc. increased its holdings in Virtus Convertible & Income Fund by 15.2% during the fourth quarter. Atomi Financial Group Inc. now owns 25,874 shares of the investment management company’s stock worth $90,000 after buying an additional 3,413 shares during the last quarter. Congress Park Capital LLC raised its position in Virtus Convertible & Income Fund by 11.5% in the fourth quarter. Congress Park Capital LLC now owns 1,743,406 shares of the investment management company’s stock worth $6,050,000 after acquiring an additional 180,077 shares during the period. Park Avenue Securities LLC boosted its stake in Virtus Convertible & Income Fund by 3.8% in the fourth quarter. Park Avenue Securities LLC now owns 418,672 shares of the investment management company’s stock valued at $1,453,000 after acquiring an additional 15,247 shares during the last quarter. Finally, PVG Asset Management Corp bought a new position in shares of Virtus Convertible & Income Fund during the 3rd quarter valued at approximately $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.