Virtus Convertible & Income Fund (NYSE:NCV) Shares Pass Above 50 Day Moving Average – Should You Sell?

Virtus Convertible & Income Fund (NYSE:NCV) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.17 and traded as high as $14.18. Virtus Convertible & Income Fund shares last traded at $14.16, with a volume of 157,120 shares traded.

Virtus Convertible & Income Fund Price Performance

The firm’s 50-day simple moving average is $14.17 and its 200 day simple moving average is $14.02.

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 11.53%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Congress Park Capital LLC raised its stake in shares of Virtus Convertible & Income Fund by 11.5% during the 4th quarter. Congress Park Capital LLC now owns 1,743,406 shares of the investment management company’s stock valued at $6,050,000 after purchasing an additional 180,077 shares during the period. Jane Street Group LLC purchased a new position in Virtus Convertible & Income Fund during the 3rd quarter valued at about $36,000. PVG Asset Management Corp bought a new stake in shares of Virtus Convertible & Income Fund during the third quarter valued at about $45,000. Thrivent Financial for Lutherans lifted its holdings in shares of Virtus Convertible & Income Fund by 61.1% in the third quarter. Thrivent Financial for Lutherans now owns 158,200 shares of the investment management company’s stock worth $554,000 after buying an additional 60,000 shares in the last quarter. Finally, Ionic Capital Management LLC bought a new position in shares of Virtus Convertible & Income Fund in the third quarter valued at approximately $64,000.

About Virtus Convertible & Income Fund

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.