Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.25 and traded as high as $21.83. Virtus Diversified Income & Convertible Fund shares last traded at $21.81, with a volume of 20,221 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Up 0.6 %

The business’s 50-day simple moving average is $21.37 and its 200-day simple moving average is $21.25.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 30th. Investors of record on Thursday, December 12th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $2.16 annualized dividend and a dividend yield of 9.76%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

A number of large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund in the second quarter valued at $51,000. Raleigh Capital Management Inc. lifted its holdings in Virtus Diversified Income & Convertible Fund by 23.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock valued at $72,000 after purchasing an additional 637 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund during the 1st quarter worth about $209,000. Commonwealth Equity Services LLC boosted its stake in shares of Virtus Diversified Income & Convertible Fund by 42.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock worth $268,000 after purchasing an additional 3,745 shares during the last quarter. Finally, World Equity Group Inc. purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the third quarter worth about $313,000.

About Virtus Diversified Income & Convertible Fund

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.