Virtus Convertible & Income Fund Declares Monthly Dividend of $0.03 (NYSE:NCV)

Virtus Convertible & Income Fund (NYSE:NCV) declared a monthly dividend on Monday, November 20th, Wall Street Journal reports. Investors of record on Friday, January 12th will be given a dividend of 0.034 per share by the investment management company on Tuesday, January 30th. This represents a $0.41 annualized dividend and a dividend yield of 12.95%. The ex-dividend date is Thursday, January 11th.

Virtus Convertible & Income Fund has decreased its dividend by an average of 1.5% per year over the last three years.

Virtus Convertible & Income Fund Stock Performance

Shares of NCV stock remained flat at $3.15 during mid-day trading on Monday. The stock had a trading volume of 268,755 shares, compared to its average volume of 484,907. Virtus Convertible & Income Fund has a fifty-two week low of $2.84 and a fifty-two week high of $4.14. The business has a fifty day moving average of $3.06 and a two-hundred day moving average of $3.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC purchased a new stake in shares of Virtus Convertible & Income Fund during the 1st quarter worth about $39,000. MML Investors Services LLC acquired a new stake in Virtus Convertible & Income Fund in the third quarter valued at approximately $54,000. Virtu Financial LLC acquired a new position in shares of Virtus Convertible & Income Fund during the 1st quarter worth approximately $62,000. Jane Street Group LLC acquired a new stake in Virtus Convertible & Income Fund in the 3rd quarter valued at $68,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Virtus Convertible & Income Fund in the 4th quarter worth $78,000.

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.