Virtus Global Multi-Sector Income Fund (NYSE:VGI) Stock Jumps 0.1% – Here’s Why

Virtus Global Multi-Sector Income Fund (NYSE:VGI)’s stock price shot up 0.1% on Wednesday. The company traded as high as $6.64 and last traded at $6.6250. 99,354 shares traded hands during mid-day trading, an increase of 140% from the average session volume of 41,432 shares. The stock had previously closed at $6.62.

Virtus Global Multi-Sector Income Fund Stock Performance

The firm has a 50 day moving average price of $7.00 and a 200-day moving average price of $7.28.

Virtus Global Multi-Sector Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 14.5%. The ex-dividend date is Thursday, November 12th.

Institutional Investors Weigh In On Virtus Global Multi-Sector Income Fund

Large investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC grew its holdings in Virtus Global Multi-Sector Income Fund by 11.5% during the third quarter. CoreCap Advisors LLC now owns 193,338 shares of the company’s stock valued at $1,305,000 after purchasing an additional 19,910 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Virtus Global Multi-Sector Income Fund in the second quarter valued at approximately $124,000. Kovack Advisors Inc. raised its position in shares of Virtus Global Multi-Sector Income Fund by 17.1% in the second quarter. Kovack Advisors Inc. now owns 18,049 shares of the company’s stock valued at $135,000 after purchasing an additional 2,638 shares during the period. Total Wealth Planning & Management Inc. raised its position in shares of Virtus Global Multi-Sector Income Fund by 3.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 46,936 shares of the company’s stock valued at $352,000 after purchasing an additional 1,605 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Virtus Global Multi-Sector Income Fund by 106.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 123,258 shares of the company’s stock worth $924,000 after buying an additional 63,666 shares during the last quarter.

Virtus Global Multi-Sector Income Fund Company Profile

Virtus Global Multi-Sector Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the ticker symbol VGI. The fund seeks to provide investors with a high level of current income while also pursuing long-term total return through investments in a diversified portfolio of fixed-income securities.

The fund invests across multiple sectors of the global bond market, including government and sovereign debt, corporate bonds, high-yield securities, emerging-market debt and other income-producing instruments.