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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $25.02 and traded as high as $27.43. Virtus Diversified Income & Convertible Fund shares last traded at $27.3590, with a volume of 48,526 shares changing hands.

Virtus Diversified Income & Convertible Fund Trading Up 0.4%

The stock has a fifty day moving average price of $26.82 and a two-hundred day moving average price of $25.02.

Virtus Diversified Income & Convertible Fund Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACV. Wolverine Asset Management LLC bought a new position in Virtus Diversified Income & Convertible Fund during the 3rd quarter worth $468,000. D.A. Davidson & CO. acquired a new stake in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter worth $256,000. Farther Finance Advisors LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund during the 3rd quarter worth $48,000. Newbridge Financial Services Group Inc. bought a new position in shares of Virtus Diversified Income & Convertible Fund in the second quarter worth $27,000. Finally, World Equity Group Inc. raised its stake 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 purchasing an additional 750 shares in the last quarter.

About Virtus Diversified Income & Convertible Fund

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.