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

Virtus Convertible & Income Fund (NYSE:NCV) declared a monthly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Monday, January 13th will be given a dividend of 0.034 per share by the investment management company on Thursday, January 30th. This represents a $0.41 dividend on an annualized basis and a yield of 11.24%. The ex-dividend date is Monday, January 13th.

Virtus Convertible & Income Fund has decreased its dividend by an average of 3.8% per year over the last three years.

Virtus Convertible & Income Fund Stock Up 1.4 %

NYSE:NCV traded up $0.05 on Thursday, reaching $3.63. The company’s stock had a trading volume of 1,073,982 shares, compared to its average volume of 516,245. Virtus Convertible & Income Fund has a 1-year low of $3.02 and a 1-year high of $3.65. The business’s 50-day moving average price is $3.49 and its two-hundred day moving average price is $3.38.

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.