Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Passes Above 200 Day Moving Average – Time to Sell?

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.67 and traded as high as $28.44. Virtus Diversified Income & Convertible Fund shares last traded at $28.20, with a volume of 15,634 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The firm has a 50 day moving average price of $26.99 and a 200 day moving average price of $26.67.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 7.7%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 153.94%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

A number of hedge funds have recently modified their holdings of ACV. Royal Bank of Canada increased its stake in shares of Virtus Diversified Income & Convertible Fund by 18.4% in the first quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock worth $1,310,000 after purchasing an additional 10,200 shares in the last quarter. Bank of America Corp DE boosted its holdings in Virtus Diversified Income & Convertible Fund by 3.0% in the 2nd quarter. Bank of America Corp DE now owns 94,758 shares of the consumer goods maker’s stock worth $2,169,000 after buying an additional 2,775 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Virtus Diversified Income & Convertible Fund in the 2nd quarter worth $27,000. Oppenheimer & Co. Inc. purchased a new stake in Virtus Diversified Income & Convertible Fund in the 3rd quarter worth $281,000. Finally, Cornerstone Advisors LLC purchased a new stake in Virtus Diversified Income & Convertible Fund in the 3rd quarter worth $178,000.

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.