Virtus Convertible & Income Fund (NYSE:NCV) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Virtus Convertible & Income Fund (NYSE:NCV) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.59 and traded as low as $16.15. Virtus Convertible & Income Fund shares last traded at $16.1620, with a volume of 68,377 shares trading hands.

Virtus Convertible & Income Fund Stock Performance

The stock’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $16.59.

Virtus Convertible & Income Fund Announces Dividend

The firm 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 $0.136 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date is Thursday, November 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

A number of hedge funds have recently added to or reduced their stakes in NCV. Raymond James Financial Inc. increased its holdings in Virtus Convertible & Income Fund by 3.2% during the 2nd quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock worth $1,110,000 after purchasing an additional 2,388 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Virtus Convertible & Income Fund in the second quarter valued at approximately $155,000. Private Advisor Group LLC boosted its position in shares of Virtus Convertible & Income Fund by 45.3% during the third quarter. Private Advisor Group LLC now owns 118,102 shares of the investment management company’s stock valued at $1,772,000 after buying an additional 36,843 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Virtus Convertible & Income Fund by 1.0% during the third quarter. Bank of America Corp DE now owns 263,876 shares of the investment management company’s stock valued at $3,958,000 after buying an additional 2,669 shares during the last quarter. Finally, Susquehanna International Group LLP grew its holdings in Virtus Convertible & Income Fund by 83.3% during the third quarter. Susquehanna International Group LLP now owns 22,803 shares of the investment management company’s stock worth $342,000 after buying an additional 10,366 shares in the last quarter.

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.