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

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.74 and traded as high as $28.19. Virtus Diversified Income & Convertible Fund shares last traded at $27.9320, with a volume of 28,223 shares traded.

Virtus Diversified Income & Convertible Fund Trading Up 1.5%

The stock has a 50-day moving average price of $27.26 and a 200 day moving average price of $26.74.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be paid a dividend of $0.18 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Thursday, August 13th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio is presently 153.94%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

Several hedge funds have recently bought and sold shares of ACV. Bank of America Corp DE boosted its holdings in shares of Virtus Diversified Income & Convertible Fund by 5.9% in the first quarter. Bank of America Corp DE now owns 104,152 shares of the consumer goods maker’s stock valued at $2,531,000 after buying an additional 5,804 shares during the period. Royal Bank of Canada increased its position in shares of Virtus Diversified Income & Convertible Fund by 6.5% during the first quarter. Royal Bank of Canada now owns 73,971 shares of the consumer goods maker’s stock worth $1,797,000 after acquiring an additional 4,509 shares in the last quarter. World Equity Group Inc. raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 15.2% during the first quarter. World Equity Group Inc. now owns 34,392 shares of the consumer goods maker’s stock worth $836,000 after acquiring an additional 4,525 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 56.5% during the first quarter. D.A. Davidson & CO. now owns 14,198 shares of the consumer goods maker’s stock worth $345,000 after acquiring an additional 5,126 shares during the period. Finally, Apollon Wealth Management LLC raised its holdings in shares of Virtus Diversified Income & Convertible Fund by 7.0% during the first quarter. Apollon Wealth Management LLC now owns 25,623 shares of the consumer goods maker’s stock worth $623,000 after acquiring an additional 1,671 shares during the period.

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.