Virtus Convertible & Income Fund (NYSE:NCV) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Virtus Convertible & Income Fund (NYSE:NCV)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.00 and traded as low as $12.99. Virtus Convertible & Income Fund shares last traded at $13.16, with a volume of 78,775 shares.

Virtus Convertible & Income Fund Stock Performance

The firm has a fifty day moving average price of $13.87 and a 200 day moving average price of $14.00.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a $0.136 dividend. This represents a $1.63 annualized dividend and a yield of 12.35%. The ex-dividend date is Thursday, June 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

A number of large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in Virtus Convertible & Income Fund in the 3rd quarter worth approximately $36,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Virtus Convertible & Income Fund during the fourth quarter worth $37,000. Meridian Wealth Management LLC bought a new stake in shares of Virtus Convertible & Income Fund during the fourth quarter worth $43,000. PVG Asset Management Corp bought a new position in Virtus Convertible & Income Fund in the third quarter valued at about $45,000. Finally, Larson Financial Group LLC lifted its position in Virtus Convertible & Income Fund by 226.1% during the 3rd quarter. Larson Financial Group LLC now owns 15,000 shares of the investment management company’s stock valued at $52,000 after purchasing an additional 10,400 shares during the period.

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.