Virtus Global Multi-Sector Income Fund (NYSE:VGI) Trading Up 0.3% – What’s Next?

Virtus Global Multi-Sector Income Fund (NYSE:VGI)’s stock price shot up 0.3% during mid-day trading on Friday . The stock traded as high as $7.87 and last traded at $7.82. 15,049 shares traded hands during trading, a decline of 50% from the average session volume of 29,995 shares. The stock had previously closed at $7.80.

Virtus Global Multi-Sector Income Fund Stock Up 0.3%

The firm has a fifty day simple moving average of $7.81 and a two-hundred day simple moving average of $7.88.

Virtus Global Multi-Sector Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be paid a $0.08 dividend. The ex-dividend date is Thursday, February 12th. This represents a c) dividend on an annualized basis and a yield of 12.3%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank lifted its stake in shares of Virtus Global Multi-Sector Income Fund by 28.9% during the third quarter. Comerica Bank now owns 5,818 shares of the company’s stock worth $46,000 after buying an additional 1,303 shares during the period. Bank of America Corp DE raised its stake in Virtus Global Multi-Sector Income Fund by 176.2% in the 3rd quarter. Bank of America Corp DE now owns 10,440 shares of the company’s stock worth $83,000 after acquiring an additional 6,660 shares during the last quarter. Integrity Advisory Solutions LLC acquired a new stake in Virtus Global Multi-Sector Income Fund during the 3rd quarter worth about $91,000. Envestnet Asset Management Inc. acquired a new stake in Virtus Global Multi-Sector Income Fund during the 2nd quarter worth about $122,000. Finally, Founders Financial Alliance LLC purchased a new stake in Virtus Global Multi-Sector Income Fund during the 3rd quarter valued at about $128,000.

Virtus Global Multi-Sector Income Fund Company Profile

The Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a diversified, closed-end management investment company that seeks to provide investors with a high level of current income by investing globally across multiple asset classes. Trading on the New York Stock Exchange, VGI is managed by a team of investment professionals at Virtus Investment Partners who draw on global research capabilities to construct a portfolio of income-producing securities.

The fund’s primary strategy focuses on identifying opportunities in both developed and emerging markets.