Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.67 and traded as high as $23.05. Virtus Diversified Income & Convertible Fund shares last traded at $22.81, with a volume of 21,725 shares trading hands.

Virtus Diversified Income & Convertible Fund Price Performance

The company has a 50 day moving average price of $22.53 and a 200 day moving average price of $21.67.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $0.18 dividend. The ex-dividend date is Thursday, March 13th. This represents a $2.16 dividend on an annualized basis and a yield of 9.47%. Virtus Diversified Income & Convertible Fund’s payout ratio is 130.91%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Virtus Diversified Income & Convertible Fund during the 4th quarter worth approximately $3,151,000. World Equity Group Inc. grew its holdings in Virtus Diversified Income & Convertible Fund by 273.5% during the 4th quarter. World Equity Group Inc. now owns 54,501 shares of the consumer goods maker’s stock worth $1,196,000 after acquiring an additional 39,909 shares during the period. Wolverine Asset Management LLC grew its holdings in Virtus Diversified Income & Convertible Fund by 12.0% during the 4th quarter. Wolverine Asset Management LLC now owns 135,942 shares of the consumer goods maker’s stock worth $2,984,000 after acquiring an additional 14,569 shares during the period. Westside Investment Management Inc. bought a new stake in shares of Virtus Diversified Income & Convertible Fund during the 4th quarter valued at $41,000. Finally, Landscape Capital Management L.L.C. lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 212.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 44,357 shares of the consumer goods maker’s stock valued at $952,000 after purchasing an additional 30,169 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.