Virtus Diversified Income & Convertible Fund (NYSE:ACV) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Virtus Diversified Income & Convertible Fund (NYSE:ACV) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.25 and traded as high as $21.83. Virtus Diversified Income & Convertible Fund shares last traded at $21.81, with a volume of 20,221 shares.

Virtus Diversified Income & Convertible Fund Stock Up 1.2 %

The firm has a fifty day moving average price of $21.33 and a 200 day moving average price of $21.25.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 10.26%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is currently 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors have recently added to or reduced their stakes in ACV. Raleigh Capital Management Inc. boosted its position in shares of Virtus Diversified Income & Convertible Fund by 23.5% in the third quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock worth $72,000 after buying an additional 637 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Virtus Diversified Income & Convertible Fund by 7.9% in the second quarter. B. Riley Wealth Advisors Inc. now owns 25,423 shares of the consumer goods maker’s stock worth $539,000 after buying an additional 1,864 shares during the period. International Assets Investment Management LLC bought a new stake in Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at about $51,000. Commonwealth Equity Services LLC boosted its position in shares of Virtus Diversified Income & Convertible Fund by 42.1% during the second quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock worth $268,000 after buying an additional 3,745 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Virtus Diversified Income & Convertible Fund by 5.0% in the third quarter. Raymond James & Associates now owns 136,344 shares of the consumer goods maker’s stock worth $2,926,000 after purchasing an additional 6,441 shares in the last quarter.

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.