Virtus Global Multi-Sector Income Fund (NYSE:VGI) Trading Up 0.4% – Here’s Why

Virtus Global Multi-Sector Income Fund (NYSE:VGI)’s stock price traded up 0.4% on Friday . The stock traded as high as $7.75 and last traded at $7.69. 16,496 shares changed hands during trading, a decline of 64% from the average session volume of 46,227 shares. The stock had previously closed at $7.66.

Virtus Global Multi-Sector Income Fund Stock Performance

The stock’s fifty day simple moving average is $7.83 and its 200-day simple moving average is $7.86.

Virtus Global Multi-Sector Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 12.48%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Investors Weigh In On Virtus Global Multi-Sector Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC boosted its stake in shares of Virtus Global Multi-Sector Income Fund by 13.7% in the 4th quarter. SeaCrest Wealth Management LLC now owns 48,216 shares of the company’s stock worth $368,000 after buying an additional 5,819 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Virtus Global Multi-Sector Income Fund during the third quarter valued at approximately $98,000. Stifel Financial Corp lifted its holdings in Virtus Global Multi-Sector Income Fund by 57.8% during the third quarter. Stifel Financial Corp now owns 70,175 shares of the company’s stock worth $568,000 after acquiring an additional 25,710 shares during the period. Fiera Capital Corp boosted its position in Virtus Global Multi-Sector Income Fund by 10.3% in the third quarter. Fiera Capital Corp now owns 99,661 shares of the company’s stock worth $807,000 after purchasing an additional 9,310 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Virtus Global Multi-Sector Income Fund in the 3rd quarter valued at $108,000.

Virtus Global Multi-Sector Income Fund Company Profile

Virtus Global Multi-Sector Income Fund is a closed ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc and Newfleet Asset Management, LLC. It invests in fixed income markets across the globe. The fund invests in both investment grade and high yield debt instruments issued by the government, corporate, bank loans, mortgage-backed securities, asset-backed securities, taxable municipal bonds, and tax-exempt municipal bonds.