Virtus Convertible & Income 2024 Target Term Fund (NYSE:CBH) Declares $0.05 Monthly Dividend

Virtus Convertible & Income 2024 Target Term Fund (NYSE:CBH) declared a monthly dividend on Monday, November 20th, Wall Street Journal reports. Stockholders of record on Friday, January 12th will be paid a dividend of 0.046 per share on Tuesday, January 30th. This represents a $0.55 annualized dividend and a dividend yield of 6.45%. The ex-dividend date is Thursday, January 11th.

Virtus Convertible & Income 2024 Target Term Fund has increased its dividend payment by an average of 7.7% per year over the last three years.

Virtus Convertible & Income 2024 Target Term Fund Stock Down 0.2 %

Virtus Convertible & Income 2024 Target Term Fund stock traded down $0.02 during midday trading on Monday, hitting $8.56. 19,390 shares of the company’s stock were exchanged, compared to its average volume of 25,749. The firm has a 50-day moving average of $8.60 and a two-hundred day moving average of $8.63. Virtus Convertible & Income 2024 Target Term Fund has a 12 month low of $8.33 and a 12 month high of $9.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its holdings in Virtus Convertible & Income 2024 Target Term Fund by 4.8% during the third quarter. Ameriprise Financial Inc. now owns 124,584 shares of the company’s stock worth $1,094,000 after acquiring an additional 5,739 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Virtus Convertible & Income 2024 Target Term Fund by 4.2% during the 2nd quarter. Wells Fargo & Company MN now owns 675,653 shares of the company’s stock worth $5,824,000 after acquiring an additional 27,112 shares in the last quarter. Rivernorth Capital Management LLC grew its position in shares of Virtus Convertible & Income 2024 Target Term Fund by 29.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 197,611 shares of the company’s stock valued at $1,703,000 after acquiring an additional 45,294 shares during the period. Commonwealth Equity Services LLC raised its holdings in Virtus Convertible & Income 2024 Target Term Fund by 4.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 118,850 shares of the company’s stock worth $1,024,000 after purchasing an additional 5,000 shares during the period. Finally, Arlington Capital Management Inc. purchased a new position in Virtus Convertible & Income 2024 Target Term Fund during the first quarter worth approximately $199,000.

Virtus Convertible & Income 2024 Target Term Fund Company Profile

Virtus Convertible & Income 2024 Target Term Fund is a closed ended balanced mutual fund launched and managed by Allianz Global Investors U.S. LLC. The fund invests in the public equity and fixed incomes markets of the United States. It invests in stocks of companies operating across diversified sectors.