Virtus Convertible & Income Fund (NYSE:NCV) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Virtus Convertible & Income Fund (NYSE:NCV)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $17.23 and traded as high as $17.34. Virtus Convertible & Income Fund shares last traded at $17.2350, with a volume of 71,622 shares.

Virtus Convertible & Income Fund Trading Up 1.3%

The firm has a 50-day simple moving average of $17.23 and a 200-day simple moving average of $16.30.

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 given 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 9.5%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. lifted its position in shares of Virtus Convertible & Income Fund by 3.2% during the second quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock valued at $1,110,000 after buying an additional 2,388 shares during the last quarter. Kestra Advisory Services LLC grew its position in shares of Virtus Convertible & Income Fund by 47.3% in the 4th quarter. Kestra Advisory Services LLC now owns 49,479 shares of the investment management company’s stock worth $750,000 after buying an additional 15,899 shares during the last quarter. Readystate Asset Management LP bought a new position in shares of Virtus Convertible & Income Fund during the 4th quarter worth approximately $399,000. Cetera Investment Advisers raised its stake in shares of Virtus Convertible & Income Fund by 19.5% during the 4th quarter. Cetera Investment Advisers now owns 26,311 shares of the investment management company’s stock worth $399,000 after acquiring an additional 4,292 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Virtus Convertible & Income Fund during the 1st quarter worth approximately $46,000.

About Virtus Convertible & Income Fund

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.