Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Virtus Diversified Income & Convertible Fund (NYSE:ACV) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.74 and traded as high as $28.19. Virtus Diversified Income & Convertible Fund shares last traded at $27.9320, with a volume of 28,223 shares trading hands.

Virtus Diversified Income & Convertible Fund Price Performance

The company’s 50-day moving average is $27.31 and its 200 day moving average is $26.76.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. Virtus Diversified Income & Convertible Fund’s payout ratio is currently 153.94%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

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