Virtus Convertible & Income Fund (NYSE:NCV) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Virtus Convertible & Income Fund (NYSE:NCV) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.23 and traded as high as $17.34. Virtus Convertible & Income Fund shares last traded at $17.2350, with a volume of 71,622 shares trading hands.

Virtus Convertible & Income Fund Stock Up 1.3%

The stock’s 50 day moving average price is $17.23 and its two-hundred day moving average price is $16.30.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 13th will be issued a $0.136 dividend. This represents a c) annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Thursday, August 13th.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NCV. Readystate Asset Management LP raised its stake in shares of Virtus Convertible & Income Fund by 39.5% during the 1st quarter. Readystate Asset Management LP now owns 36,738 shares of the investment management company’s stock valued at $547,000 after buying an additional 10,403 shares during the last quarter. Saba Capital Management L.P. boosted its stake in shares of Virtus Convertible & Income Fund by 373.3% in the first quarter. Saba Capital Management L.P. now owns 723,578 shares of the investment management company’s stock worth $10,767,000 after buying an additional 570,704 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Virtus Convertible & Income Fund by 21.4% in the first quarter. Private Advisor Group LLC now owns 164,322 shares of the investment management company’s stock worth $2,445,000 after buying an additional 28,915 shares during the last quarter. Wealth Care LLC acquired a new stake in Virtus Convertible & Income Fund during the first quarter worth about $1,016,000. Finally, Alteri Wealth LLC grew its holdings in Virtus Convertible & Income Fund by 9.1% during the fourth quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock worth $172,000 after acquiring an additional 946 shares during the period.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.