Allianzgi Convertible & Income Fund (NYSE:NCV) Share Price Crosses Below 50 Day Moving Average of $5.65

Allianzgi Convertible & Income Fund (NYSE:NCV) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.65 and traded as low as $5.63. Allianzgi Convertible & Income Fund shares last traded at $5.66, with a volume of 3,198 shares changing hands.

The stock has a fifty day moving average price of $5.65 and a 200-day moving average price of $5.67.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 12th will be given a $0.0525 dividend. This is a boost from Allianzgi Convertible & Income Fund’s previous monthly dividend of $0.05. The ex-dividend date is Wednesday, December 11th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 11.07%.

A number of hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its position in Allianzgi Convertible & Income Fund by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 319,012 shares of the investment management company’s stock valued at $1,802,000 after buying an additional 13,618 shares in the last quarter. Creative Planning increased its holdings in shares of Allianzgi Convertible & Income Fund by 23.3% during the second quarter. Creative Planning now owns 25,044 shares of the investment management company’s stock valued at $142,000 after acquiring an additional 4,730 shares in the last quarter. Wedbush Securities Inc. acquired a new position in shares of Allianzgi Convertible & Income Fund during the second quarter valued at about $62,000. Coastal Investment Advisors Inc. purchased a new position in shares of Allianzgi Convertible & Income Fund in the 2nd quarter valued at approximately $43,000. Finally, Mid Atlantic Financial Management Inc. ADV raised its position in shares of Allianzgi Convertible & Income Fund by 38.1% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 193,507 shares of the investment management company’s stock valued at $1,093,000 after purchasing an additional 53,341 shares during the last quarter.

About Allianzgi Convertible & Income Fund (NYSE:NCV)

AllianzGI 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.

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