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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $25.44 and traded as high as $27.47. Virtus Diversified Income & Convertible Fund shares last traded at $27.3650, with a volume of 13,641 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Up 1.0%

The business has a fifty day moving average price of $27.11 and a 200 day moving average price of $25.44.

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 payout ratio is 130.91%.

Hedge Funds Weigh In On Virtus Diversified Income & Convertible Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in Virtus Diversified Income & Convertible Fund during the 2nd quarter worth approximately $27,000. International Assets Investment Management LLC purchased a new stake in Virtus Diversified Income & Convertible Fund during the fourth quarter worth approximately $73,000. Emissary Wealth LLC acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the fourth quarter worth $2,090,000. Apollon Wealth Management LLC increased its position in shares of Virtus Diversified Income & Convertible Fund by 82.8% in the fourth quarter. Apollon Wealth Management LLC now owns 23,952 shares of the consumer goods maker’s stock worth $630,000 after acquiring an additional 10,847 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC raised its stake in shares of Virtus Diversified Income & Convertible Fund by 2.9% in the 4th quarter. Gilliland Jeter Wealth Management LLC now owns 25,098 shares of the consumer goods maker’s stock valued at $660,000 after acquiring an additional 700 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.