Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Virtus Diversified Income & Convertible Fund (NYSE:ACV) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.33 and traded as high as $26.78. Virtus Diversified Income & Convertible Fund shares last traded at $26.2460, with a volume of 9,601 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The stock’s 50-day moving average price is $25.84 and its 200-day moving average price is $26.34.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 11th will be paid a $0.18 dividend. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 7.9%. Virtus Diversified Income & Convertible Fund’s payout ratio is currently 153.94%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in shares of Virtus Diversified Income & Convertible Fund by 5.9% in the 1st quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock valued at $2,531,000 after acquiring an additional 5,804 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Virtus Diversified Income & Convertible Fund by 6.5% in the 1st quarter. Royal Bank of Canada now owns 73,971 shares of the consumer goods maker’s stock valued at $1,797,000 after acquiring an additional 4,509 shares in the last quarter. World Equity Group Inc. increased its stake in shares of Virtus Diversified Income & Convertible Fund by 15.2% in the 1st quarter. World Equity Group Inc. now owns 34,392 shares of the consumer goods maker’s stock valued at $836,000 after acquiring an additional 4,525 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Virtus Diversified Income & Convertible Fund by 56.5% in the 1st quarter. D.A. Davidson & CO. now owns 14,198 shares of the consumer goods maker’s stock valued at $345,000 after acquiring an additional 5,126 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its stake in shares of Virtus Diversified Income & Convertible Fund by 7.0% in the 1st quarter. Apollon Wealth Management LLC now owns 25,623 shares of the consumer goods maker’s stock valued at $623,000 after acquiring an additional 1,671 shares in the last quarter.

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.