Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Virtus Diversified Income & Convertible Fund (NYSE:ACV) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.02 and traded as high as $27.43. Virtus Diversified Income & Convertible Fund shares last traded at $27.3590, with a volume of 48,526 shares.

Virtus Diversified Income & Convertible Fund Stock Up 0.4%

The stock has a 50-day simple moving average of $26.82 and a 200 day simple moving average of $25.03.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently announced a special dividend, which was paid on Friday, January 9th. Investors of record on Monday, December 29th were given a dividend of $0.384 per share. The ex-dividend date was Monday, December 29th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is 141.82%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors have recently added to or reduced their stakes in ACV. Wolverine Asset Management LLC acquired a new position in Virtus Diversified Income & Convertible Fund in the third quarter valued at about $468,000. D.A. Davidson & CO. acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the third quarter valued at about $256,000. Farther Finance Advisors LLC bought a new stake in Virtus Diversified Income & Convertible Fund during the third quarter worth about $48,000. Newbridge Financial Services Group Inc. bought a new position in Virtus Diversified Income & Convertible Fund in the second quarter valued at approximately $27,000. Finally, World Equity Group Inc. increased its position in shares of Virtus Diversified Income & Convertible Fund by 2.9% during the 3rd quarter. World Equity Group Inc. now owns 26,742 shares of the consumer goods maker’s stock worth $644,000 after purchasing an additional 750 shares during the last quarter.

Virtus Diversified Income & Convertible Fund Company Profile

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.