Virtus Diversified Income & Convertible Fund (NYSE:ACV) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Virtus Diversified Income & Convertible Fund (NYSE:ACV) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.91 and traded as high as $27.61. Virtus Diversified Income & Convertible Fund shares last traded at $27.03, with a volume of 15,691 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The firm’s 50 day moving average price is $27.66 and its two-hundred day moving average price is $26.91.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a yield of 8.0%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 153.94%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Several hedge funds and other institutional investors have recently bought and sold shares of ACV. Emissary Wealth LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the 4th quarter valued at about $2,090,000. Guggenheim Capital LLC increased its position in Virtus Diversified Income & Convertible Fund by 19.7% in the 4th quarter. Guggenheim Capital LLC now owns 361,160 shares of the consumer goods maker’s stock valued at $9,495,000 after buying an additional 59,335 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Virtus Diversified Income & Convertible Fund by 13.3% during the 4th quarter. Advisors Asset Management Inc. now owns 222,978 shares of the consumer goods maker’s stock worth $5,862,000 after buying an additional 26,251 shares during the period. Raymond James Financial Inc. raised its stake in Virtus Diversified Income & Convertible Fund by 10.1% during the 3rd quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock worth $3,425,000 after buying an additional 13,064 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in Virtus Diversified Income & Convertible Fund by 82.8% in the fourth quarter. Apollon Wealth Management LLC now owns 23,952 shares of the consumer goods maker’s stock worth $630,000 after acquiring an additional 10,847 shares in the last quarter.

About Virtus Diversified Income & Convertible Fund

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.