Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Virtus Diversified Income & Convertible Fund (NYSE:ACV) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.26 and traded as high as $27.75. Virtus Diversified Income & Convertible Fund shares last traded at $27.1320, with a volume of 25,534 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Down 1.2%

The stock’s fifty day moving average price is $25.84 and its 200-day moving average price is $26.26.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 11th will be paid a $0.18 dividend. This represents a c) annualized dividend and a yield of 8.0%. The ex-dividend date is Monday, May 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 164.85%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ACV. Newbridge Financial Services Group Inc. bought a new stake in Virtus Diversified Income & Convertible Fund in the second quarter worth approximately $27,000. CENTRAL TRUST Co bought a new stake in shares of Virtus Diversified Income & Convertible Fund during the 1st quarter worth $36,000. International Assets Investment Management LLC bought a new stake in Virtus Diversified Income & Convertible Fund in the 4th quarter valued at $73,000. Kestra Advisory Services LLC bought a new stake in Virtus Diversified Income & Convertible Fund in the 4th quarter valued at $144,000. Finally, Cornerstone Advisors LLC bought a new stake in Virtus Diversified Income & Convertible Fund in the 3rd quarter valued at $178,000.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.