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

Virtus Convertible & Income Fund (NYSE:NCV)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.30 and traded as high as $15.46. Virtus Convertible & Income Fund shares last traded at $15.3750, with a volume of 53,205 shares trading hands.

Virtus Convertible & Income Fund Stock Performance

The business has a 50-day simple moving average of $15.30 and a two-hundred day simple moving average of $14.79.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be issued a dividend of $0.136 per share. The ex-dividend date is Thursday, February 12th. This represents a c) annualized dividend and a yield of 10.6%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its holdings in shares of Virtus Convertible & Income Fund by 66.1% in the 2nd quarter. Osaic Holdings Inc. now owns 89,247 shares of the investment management company’s stock valued at $1,267,000 after acquiring an additional 35,526 shares in the last quarter. Congress Park Capital LLC boosted its position in Virtus Convertible & Income Fund by 16.6% during the third quarter. Congress Park Capital LLC now owns 633,850 shares of the investment management company’s stock valued at $9,508,000 after purchasing an additional 90,027 shares during the last quarter. Guggenheim Capital LLC bought a new position in Virtus Convertible & Income Fund in the second quarter valued at approximately $1,427,000. Advisors Asset Management Inc. increased its position in shares of Virtus Convertible & Income Fund by 13.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 711,902 shares of the investment management company’s stock worth $10,109,000 after purchasing an additional 83,219 shares during the last quarter. Finally, Good Life Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund during the 2nd quarter worth approximately $278,000.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.