Virtus Convertible & Income Fund (NYSE:NCV) Shares Pass Below 200-Day Moving Average of $3.21

Virtus Convertible & Income Fund (NYSE:NCV)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.21 and traded as low as $3.09. Virtus Convertible & Income Fund shares last traded at $3.12, with a volume of 397,243 shares changing hands.

Virtus Convertible & Income Fund Stock Performance

The stock’s 50-day moving average is $3.22 and its 200-day moving average is $3.21.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, April 11th will be issued a dividend of $0.034 per share. This represents a dividend yield of 12.48%. The ex-dividend date is Wednesday, April 10th.

Institutional Trading of Virtus Convertible & Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its stake in shares of Virtus Convertible & Income Fund by 11.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,420,720 shares of the investment management company’s stock valued at $7,528,000 after buying an additional 239,757 shares during the period. Congress Park Capital LLC boosted its holdings in Virtus Convertible & Income Fund by 1.6% in the first quarter. Congress Park Capital LLC now owns 1,025,433 shares of the investment management company’s stock valued at $3,425,000 after acquiring an additional 15,780 shares during the last quarter. Cornerstone Advisors LLC grew its position in Virtus Convertible & Income Fund by 31.0% during the fourth quarter. Cornerstone Advisors LLC now owns 985,916 shares of the investment management company’s stock valued at $3,323,000 after acquiring an additional 233,478 shares during the period. WNY Asset Management LLC increased its stake in Virtus Convertible & Income Fund by 9.6% during the fourth quarter. WNY Asset Management LLC now owns 612,733 shares of the investment management company’s stock worth $2,065,000 after acquiring an additional 53,703 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of Virtus Convertible & Income Fund by 8.8% in the 3rd quarter. Park Avenue Securities LLC now owns 347,324 shares of the investment management company’s stock worth $1,080,000 after purchasing an additional 28,038 shares during the period.

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.