Virtus Diversified Income & Convertible Fund (NYSE:ACV) Share Price Passes Above 200-Day Moving Average – Here’s Why

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.94 and traded as high as $26.50. Virtus Diversified Income & Convertible Fund shares last traded at $26.4650, with a volume of 22,177 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Up 0.8%

The stock has a fifty day moving average of $25.55 and a two-hundred day moving average of $23.96.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, January 9th. Stockholders of record on Monday, December 29th will be issued a $0.384 dividend. The ex-dividend date is Monday, December 29th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is currently 130.91%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. World Equity Group Inc. increased its holdings in Virtus Diversified Income & Convertible Fund by 2.9% in the third quarter. World Equity Group Inc. now owns 26,742 shares of the consumer goods maker’s stock valued at $644,000 after buying an additional 750 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the 2nd quarter worth approximately $27,000. Bank of America Corp DE grew its holdings in shares of Virtus Diversified Income & Convertible Fund by 2.0% in the 3rd quarter. Bank of America Corp DE now owns 96,646 shares of the consumer goods maker’s stock worth $2,329,000 after acquiring an additional 1,888 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the 3rd quarter worth approximately $48,000. Finally, American National Bank & Trust purchased a new position in Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at approximately $48,000.

Virtus Diversified Income & Convertible Fund Company Profile

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.