Virtus Convertible & Income Fund (NYSE:NCV) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Virtus Convertible & Income Fund (NYSE:NCV) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.83 and traded as high as $13.50. Virtus Convertible & Income Fund shares last traded at $13.47, with a volume of 137,816 shares changing hands.

Virtus Convertible & Income Fund Trading Up 0.8%

The firm’s 50-day moving average is $12.83 and its 200 day moving average is $13.68.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, May 29th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.136 per share. This represents a dividend yield of 12.52%. The ex-dividend date of this dividend is Monday, May 12th.

Institutional Trading of Virtus Convertible & Income Fund

Institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC bought a new position in Virtus Convertible & Income Fund during the 1st quarter worth $7,775,000. Raymond James Financial Inc. acquired a new stake in shares of Virtus Convertible & Income Fund in the fourth quarter valued at about $970,000. LPL Financial LLC raised its position in shares of Virtus Convertible & Income Fund by 34.5% during the fourth quarter. LPL Financial LLC now owns 1,037,074 shares of the investment management company’s stock worth $3,599,000 after acquiring an additional 265,938 shares during the last quarter. Congress Park Capital LLC lifted its stake in shares of Virtus Convertible & Income Fund by 11.5% in the fourth quarter. Congress Park Capital LLC now owns 1,743,406 shares of the investment management company’s stock worth $6,050,000 after acquiring an additional 180,077 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in shares of Virtus Convertible & Income Fund in the first quarter worth approximately $2,211,000.

About Virtus Convertible & Income Fund

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.