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

Virtus Diversified Income & Convertible Fund (NYSE:ACV) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.57 and traded as high as $27.61. Virtus Diversified Income & Convertible Fund shares last traded at $27.43, with a volume of 19,384 shares traded.

Virtus Diversified Income & Convertible Fund Stock Up 1.6%

The company has a 50-day moving average price of $26.59 and a 200 day moving average price of $26.57.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be given a $0.18 dividend. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend is Thursday, August 13th. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is 153.94%.

Institutional Trading of Virtus Diversified Income & Convertible Fund

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