Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Pass Above 200-Day Moving Average of $20.71

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $20.71 and traded as high as $24.21. Virtus Diversified Income & Convertible Fund shares last traded at $23.83, with a volume of 18,024 shares traded.

Virtus Diversified Income & Convertible Fund Stock Performance

The stock’s 50-day moving average is $23.04 and its two-hundred day moving average is $20.71.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.06%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is 141.82%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates increased its stake in Virtus Diversified Income & Convertible Fund by 29.1% in the 1st quarter. Raymond James & Associates now owns 94,675 shares of the consumer goods maker’s stock worth $2,409,000 after buying an additional 21,328 shares during the period. D.A. Davidson & CO. increased its stake in Virtus Diversified Income & Convertible Fund by 12.0% in the 1st quarter. D.A. Davidson & CO. now owns 7,910 shares of the consumer goods maker’s stock worth $201,000 after buying an additional 850 shares during the period. Atria Wealth Solutions Inc. purchased a new position in Virtus Diversified Income & Convertible Fund in the 1st quarter worth about $311,000. Royal Bank of Canada increased its stake in Virtus Diversified Income & Convertible Fund by 4.4% in the 1st quarter. Royal Bank of Canada now owns 42,153 shares of the consumer goods maker’s stock worth $1,073,000 after buying an additional 1,774 shares during the period. Finally, Bank of America Corp DE increased its stake in Virtus Diversified Income & Convertible Fund by 5.0% in the 1st quarter. Bank of America Corp DE now owns 136,497 shares of the consumer goods maker’s stock worth $3,474,000 after buying an additional 6,502 shares during the period.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus Diversified Income & Convertible Fund is a closed-ended balanced 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 the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.