Virtus Convertible & Income Fund (NYSE:NCV) Shares Pass Above 50-Day Moving Average – What’s Next?

Virtus Convertible & Income Fund (NYSE:NCV)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $16.99 and traded as high as $17.41. Virtus Convertible & Income Fund shares last traded at $17.33, with a volume of 41,518 shares.

Virtus Convertible & Income Fund Stock Performance

The firm’s 50-day simple moving average is $16.99 and its 200 day simple moving average is $16.12.

Virtus Convertible & Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be issued a dividend of $0.136 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 9.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NCV. Readystate Asset Management LP lifted its position in shares of Virtus Convertible & Income Fund by 39.5% during the 1st quarter. Readystate Asset Management LP now owns 36,738 shares of the investment management company’s stock valued at $547,000 after acquiring an additional 10,403 shares during the period. Saba Capital Management L.P. grew its holdings in shares of Virtus Convertible & Income Fund by 373.3% in the 1st quarter. Saba Capital Management L.P. now owns 723,578 shares of the investment management company’s stock worth $10,767,000 after acquiring an additional 570,704 shares during the period. Cetera Investment Advisers grew its holdings in shares of Virtus Convertible & Income Fund by 2.7% in the 1st quarter. Cetera Investment Advisers now owns 27,019 shares of the investment management company’s stock worth $402,000 after acquiring an additional 708 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Virtus Convertible & Income Fund in the 1st quarter worth approximately $46,000. Finally, Private Advisor Group LLC increased its stake in Virtus Convertible & Income Fund by 21.4% in the 1st quarter. Private Advisor Group LLC now owns 164,322 shares of the investment management company’s stock valued at $2,445,000 after purchasing an additional 28,915 shares in the last quarter.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.