Virtus Convertible & Income Fund (NYSE:NCV) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Virtus Convertible & Income Fund (NYSE:NCV)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.05 and traded as low as $13.29. Virtus Convertible & Income Fund shares last traded at $13.35, with a volume of 110,095 shares changing hands.

Virtus Convertible & Income Fund Stock Performance

The firm has a 50 day simple moving average of $14.04 and a two-hundred day simple moving average of $14.04.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.136 per share. This represents a $1.63 annualized dividend and a yield of 12.33%. The ex-dividend date is Thursday, June 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Several hedge funds have recently modified their holdings of the company. Elequin Capital LP acquired a new position in shares of Virtus Convertible & Income Fund during the 4th quarter valued at $101,000. Ionic Capital Management LLC increased its position in shares of Virtus Convertible & Income Fund by 510.0% during the 4th quarter. Ionic Capital Management LLC now owns 112,055 shares of the investment management company’s stock valued at $389,000 after purchasing an additional 93,685 shares during the period. Ameriprise Financial Inc. increased its position in shares of Virtus Convertible & Income Fund by 1.5% during the 4th quarter. Ameriprise Financial Inc. now owns 817,880 shares of the investment management company’s stock valued at $2,838,000 after purchasing an additional 11,697 shares during the period. Alteri Wealth LLC acquired a new position in shares of Virtus Convertible & Income Fund during the 4th quarter valued at $153,000. Finally, Walleye Capital LLC acquired a new position in shares of Virtus Convertible & Income Fund during the 4th quarter valued at $334,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.