Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Crosses Above 200-Day Moving Average – What’s Next?

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.60 and traded as high as $27.65. Virtus Diversified Income & Convertible Fund shares last traded at $27.5260, with a volume of 19,527 shares trading hands.

Virtus Diversified Income & Convertible Fund Stock Performance

The firm has a 50 day moving average price of $26.21 and a 200-day moving average price of $24.60.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 29th were issued a dividend of $0.384 per share. The ex-dividend date was Monday, December 29th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is 141.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the second quarter worth approximately $27,000. Farther Finance Advisors LLC purchased a new position in Virtus Diversified Income & Convertible Fund during the third quarter worth approximately $48,000. American National Bank & Trust acquired a new position in shares of Virtus Diversified Income & Convertible Fund in the 2nd quarter valued at $48,000. Cornerstone Advisors LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter valued at $178,000. Finally, World Investment Advisors purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter valued at $228,000.

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.