Virtus Diversified Income & Convertible Fund (NYSE:ACV) Shares Cross Above 200 Day Moving Average – Here’s Why

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $26.91 and traded as high as $27.61. Virtus Diversified Income & Convertible Fund shares last traded at $27.03, with a volume of 15,691 shares.

Virtus Diversified Income & Convertible Fund Stock Down 0.7%

The company has a fifty day simple moving average of $27.66 and a two-hundred day simple moving average of $26.91.

Virtus Diversified Income & Convertible Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be given a $0.18 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 153.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACV. Emissary Wealth LLC bought a new position in shares of Virtus Diversified Income & Convertible Fund in the 4th quarter valued at $2,090,000. Guggenheim Capital LLC boosted its stake in Virtus Diversified Income & Convertible Fund by 19.7% in the fourth quarter. Guggenheim Capital LLC now owns 361,160 shares of the consumer goods maker’s stock valued at $9,495,000 after buying an additional 59,335 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Virtus Diversified Income & Convertible Fund by 13.3% in the fourth quarter. Advisors Asset Management Inc. now owns 222,978 shares of the consumer goods maker’s stock valued at $5,862,000 after buying an additional 26,251 shares in the last quarter. Raymond James Financial Inc. grew its position in Virtus Diversified Income & Convertible Fund by 10.1% in the third quarter. Raymond James Financial Inc. now owns 142,108 shares of the consumer goods maker’s stock valued at $3,425,000 after acquiring an additional 13,064 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in Virtus Diversified Income & Convertible Fund by 82.8% during 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.

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.