Virtus Convertible & Income Fund (NYSE:NCV) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Virtus Convertible & Income Fund (NYSE:NCV) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.46 and traded as low as $3.38. Virtus Convertible & Income Fund shares last traded at $3.43, with a volume of 654,012 shares trading hands.

Virtus Convertible & Income Fund Stock Down 1.2 %

The firm has a 50 day moving average of $3.56 and a 200-day moving average of $3.46.

Virtus Convertible & Income 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 paid a $0.136 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.63 annualized dividend and a yield of 47.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NCV. Penserra Capital Management LLC bought a new position in Virtus Convertible & Income Fund in the third quarter worth approximately $8,974,000. Congress Park Capital LLC grew its stake in Virtus Convertible & Income Fund by 46.8% in the third quarter. Congress Park Capital LLC now owns 1,563,329 shares of the investment management company’s stock worth $5,472,000 after purchasing an additional 498,112 shares in the last quarter. Cornerstone Advisors LLC grew its stake in Virtus Convertible & Income Fund by 17.3% in the second quarter. Cornerstone Advisors LLC now owns 919,074 shares of the investment management company’s stock worth $3,005,000 after purchasing an additional 135,268 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new position in Virtus Convertible & Income Fund in the second quarter worth approximately $307,000. Finally, Advisors Asset Management Inc. grew its stake in Virtus Convertible & Income Fund by 2.4% in the third quarter. Advisors Asset Management Inc. now owns 2,619,727 shares of the investment management company’s stock worth $9,169,000 after purchasing an additional 60,559 shares in the last quarter.

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.