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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.59 and traded as high as $23.12. Virtus Diversified Income & Convertible Fund shares last traded at $22.97, with a volume of 35,311 shares.

Virtus Diversified Income & Convertible Fund Stock Up 0.6 %

The business has a 50 day moving average price of $22.47 and a 200 day moving average price of $21.59.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.40%. Virtus Diversified Income & Convertible Fund’s payout ratio is currently 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

A number of hedge funds have recently made changes to their positions in ACV. Wolverine Asset Management LLC increased its holdings in shares of Virtus Diversified Income & Convertible Fund by 275.9% in the third quarter. Wolverine Asset Management LLC now owns 121,373 shares of the consumer goods maker’s stock valued at $2,605,000 after purchasing an additional 89,088 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Virtus Diversified Income & Convertible Fund by 2,101.5% in the third quarter. International Assets Investment Management LLC now owns 52,947 shares of the consumer goods maker’s stock valued at $1,136,000 after purchasing an additional 50,542 shares during the last quarter. Landscape Capital Management L.L.C. increased its holdings in shares of Virtus Diversified Income & Convertible Fund by 212.6% in the third 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 last quarter. Shaker Financial Services LLC increased its holdings in shares of Virtus Diversified Income & Convertible Fund by 137.6% in the third quarter. Shaker Financial Services LLC now owns 50,876 shares of the consumer goods maker’s stock valued at $1,092,000 after purchasing an additional 29,467 shares during the last quarter. Finally, World Equity Group Inc. acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the third quarter valued at approximately $313,000.

About Virtus Diversified Income & Convertible Fund

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.