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

Virtus Convertible & Income Fund (NYSE:NCV)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.92 and traded as high as $15.58. Virtus Convertible & Income Fund shares last traded at $15.52, with a volume of 79,254 shares trading hands.

Virtus Convertible & Income Fund Stock Performance

The stock has a 50 day simple moving average of $14.92 and a 200-day simple moving average of $13.95.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.136 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date is Thursday, November 13th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Congress Park Capital LLC lifted its holdings in Virtus Convertible & Income Fund by 16.6% in the 3rd quarter. Congress Park Capital LLC now owns 633,850 shares of the investment management company’s stock worth $9,508,000 after purchasing an additional 90,027 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Virtus Convertible & Income Fund by 66.1% during the 2nd quarter. Osaic Holdings Inc. now owns 89,247 shares of the investment management company’s stock valued at $1,267,000 after purchasing an additional 35,526 shares during the last quarter. Jane Street Group LLC bought a new position in Virtus Convertible & Income Fund in the 2nd quarter valued at $155,000. Raymond James Financial Inc. grew its position in Virtus Convertible & Income Fund by 3.2% in the 2nd quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock valued at $1,110,000 after acquiring an additional 2,388 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new position in Virtus Convertible & Income Fund in the 2nd quarter valued at $1,427,000.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.