Allianzgi Diversified Incm and Cnvrtb Fd (NYSE:ACV) reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The company traded as high as $22.35 and last traded at $22.35, with a volume of 33581 shares changing hands. The stock had previously closed at $22.05.

The newly announced dividend which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be issued a $0.167 dividend. This represents a $2.00 annualized dividend and a dividend yield of 8.99%. The ex-dividend date of this dividend is Friday, November 10th.

A number of institutional investors and hedge funds have recently modified their holdings of ACV. Advisors Asset Management Inc. lifted its holdings in Allianzgi Diversified Incm and Cnvrtb Fd by 55.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 395,782 shares of the consumer goods maker’s stock worth $8,296,000 after purchasing an additional 141,665 shares in the last quarter. Usca Ria LLC bought a new position in Allianzgi Diversified Incm and Cnvrtb Fd in the 2nd quarter worth about $222,000. Finally, Royal Bank of Canada increased its stake in Allianzgi Diversified Incm and Cnvrtb Fd by 4.3% in the 2nd quarter. Royal Bank of Canada now owns 60,172 shares of the consumer goods maker’s stock worth $1,261,000 after acquiring an additional 2,456 shares during the last quarter.

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Allianzgi Diversified Incm and Cnvrtb Fd Company Profile

AllianzGI Diversified Income & Convertible Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. The Fund invests in a combination of convertible securities, debt and other income-producing instruments and common stocks and other equity securities.

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