Virtus Convertible & Income Fund Declares Monthly Dividend of $0.03 (NYSE:NCV)

Virtus Convertible & Income Fund (NYSE:NCV) announced a monthly dividend on Monday, November 20th, Wall Street Journal reports. Shareholders of record on Friday, January 12th will be paid a dividend of 0.034 per share by the investment management company on Tuesday, January 30th. This represents a $0.41 dividend on an annualized basis and a yield of 12.95%. The ex-dividend date of this dividend is Thursday, January 11th.

Virtus Convertible & Income Fund has decreased its dividend payment by an average of 1.5% annually over the last three years.

Virtus Convertible & Income Fund Price Performance

Shares of NYSE:NCV opened at $3.15 on Tuesday. Virtus Convertible & Income Fund has a 12-month low of $2.84 and a 12-month high of $4.14. The business’s 50 day moving average is $3.06 and its 200 day moving average is $3.25.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NCV. Raymond James Financial Services Advisors Inc. boosted its position in shares of Virtus Convertible & Income Fund by 13.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,872 shares of the investment management company’s stock valued at $291,000 after buying an additional 6,729 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Virtus Convertible & Income Fund by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 92,711 shares of the investment management company’s stock valued at $466,000 after buying an additional 6,524 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Virtus Convertible & Income Fund by 8.6% during the first quarter. Private Advisor Group LLC now owns 130,210 shares of the investment management company’s stock valued at $655,000 after buying an additional 10,359 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Virtus Convertible & Income Fund by 27.9% during the first quarter. NewEdge Advisors LLC now owns 145,526 shares of the investment management company’s stock valued at $732,000 after buying an additional 31,726 shares during the last quarter. Finally, SVB Wealth LLC boosted its position in shares of Virtus Convertible & Income Fund by 132.2% during the first quarter. SVB Wealth LLC now owns 39,114 shares of the investment management company’s stock valued at $197,000 after buying an additional 22,268 shares during the last quarter.

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.