Virtus Convertible & Income Fund (NYSE:NCV) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Virtus Convertible & Income Fund (NYSE:NCV) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.99 and traded as high as $17.41. Virtus Convertible & Income Fund shares last traded at $17.33, with a volume of 41,518 shares traded.

Virtus Convertible & Income Fund Stock Down 0.4%

The firm’s 50 day moving average is $17.01 and its two-hundred day moving average is $16.13.

Virtus Convertible & Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 13th will be given a $0.136 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Thursday, August 13th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new position in Virtus Convertible & Income Fund during the 1st quarter worth approximately $46,000. Global Retirement Partners LLC increased its position in shares of Virtus Convertible & Income Fund by 372.7% during the fourth quarter. Global Retirement Partners LLC now owns 8,404 shares of the investment management company’s stock worth $127,000 after buying an additional 6,626 shares during the period. Jane Street Group LLC bought a new position in Virtus Convertible & Income Fund during the second quarter worth $155,000. Alteri Wealth LLC raised its stake 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 buying an additional 946 shares during the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new position in Virtus Convertible & Income Fund in the fourth quarter valued at $179,000.

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.