Virtus Diversified Income & Convertible Fund (NYSE:ACV) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.47 and traded as high as $22.62. Virtus Diversified Income & Convertible Fund shares last traded at $22.54, with a volume of 23,353 shares traded.

Virtus Diversified Income & Convertible Fund Trading Up 0.9%

The stock has a 50-day moving average price of $22.42 and a 200 day moving average price of $21.47.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, July 30th. Investors of record on Monday, July 14th were issued a dividend of $0.18 per share. This represents a dividend yield of 942.0%. The ex-dividend date was Friday, July 11th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 141.82%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors have recently bought and sold shares of ACV. LPL Financial LLC raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 1.8% in the first quarter. LPL Financial LLC now owns 284,518 shares of the consumer goods maker’s stock valued at $5,690,000 after purchasing an additional 4,991 shares during the last quarter. Guggenheim Capital LLC increased its stake in Virtus Diversified Income & Convertible Fund by 13.7% in the 4th quarter. Guggenheim Capital LLC now owns 245,793 shares of the consumer goods maker’s stock valued at $5,395,000 after buying an additional 29,659 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Virtus Diversified Income & Convertible Fund during the 4th quarter worth about $3,151,000. Royal Bank of Canada boosted its stake in shares of Virtus Diversified Income & Convertible Fund by 18.4% during the 1st quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock worth $1,310,000 after buying an additional 10,200 shares during the last quarter. Finally, Shaker Financial Services LLC grew its holdings in shares of Virtus Diversified Income & Convertible Fund by 14.6% in the 1st quarter. Shaker Financial Services LLC now owns 42,344 shares of the consumer goods maker’s stock valued at $847,000 after acquiring an additional 5,391 shares in the last quarter.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund is a closed-ended balanced 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 the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.