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

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.42 and traded as high as $27.79. Virtus Diversified Income & Convertible Fund shares last traded at $27.44, with a volume of 32,409 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The stock’s 50 day moving average price is $26.03 and its 200 day moving average price is $24.42.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, January 9th. Shareholders of record on Monday, December 29th were given a dividend of $0.384 per share. The ex-dividend date of this dividend was Monday, December 29th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is 141.82%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 18.4% in the 1st quarter. Royal Bank of Canada now owns 65,491 shares of the consumer goods maker’s stock valued at $1,310,000 after purchasing an additional 10,200 shares during the period. American National Bank & Trust bought a new stake in Virtus Diversified Income & Convertible Fund in the second quarter worth approximately $48,000. Apollon Wealth Management LLC acquired a new position in Virtus Diversified Income & Convertible Fund in the second quarter valued at approximately $229,000. Advisors Asset Management Inc. boosted its holdings in shares of Virtus Diversified Income & Convertible Fund by 27.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 232,133 shares of the consumer goods maker’s stock worth $5,314,000 after buying an additional 50,027 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of Virtus Diversified Income & Convertible Fund by 17.9% during the 2nd quarter. Guggenheim Capital LLC now owns 289,591 shares of the consumer goods maker’s stock worth $6,629,000 after buying an additional 43,866 shares during the period.

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.