Virtus Convertible & Income Fund (NYSE:NCV) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of Virtus Convertible & Income Fund (NYSE:NCV) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.35 and traded as low as $16.15. Virtus Convertible & Income Fund shares last traded at $16.5830, with a volume of 584,504 shares trading hands.

Virtus Convertible & Income Fund Trading Up 1.4%

The business’s 50-day moving average price is $17.20 and its 200-day moving average price is $16.35.

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. This represents a c) annualized dividend and a dividend yield of 9.8%. The ex-dividend date is Thursday, August 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers lifted its position in Virtus Convertible & Income Fund by 2.7% during 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 last quarter. Alteri Wealth LLC grew its position in shares of Virtus Convertible & Income Fund by 9.1% in the fourth quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock valued at $172,000 after purchasing an additional 946 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of Virtus Convertible & Income Fund by 11.1% in the fourth quarter. CoreCap Advisors LLC now owns 16,005 shares of the investment management company’s stock worth $242,000 after purchasing an additional 1,600 shares during the period. Raymond James Financial Inc. lifted its position in shares of Virtus Convertible & Income Fund by 3.2% during the 2nd quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock worth $1,110,000 after purchasing an additional 2,388 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Virtus Convertible & Income Fund by 1.0% during the 3rd quarter. Bank of America Corp DE now owns 263,876 shares of the investment management company’s stock worth $3,958,000 after purchasing an additional 2,669 shares during 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.