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

Virtus Convertible & Income Fund (NYSE:NCV)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.45 and traded as low as $3.45. Virtus Convertible & Income Fund shares last traded at $3.46, with a volume of 184,266 shares.

Virtus Convertible & Income Fund Price Performance

The stock’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $3.46.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $0.136 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 45.97%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of NCV. MCF Advisors LLC bought a new stake in Virtus Convertible & Income Fund during the second quarter worth about $29,000. International Assets Investment Management LLC raised its holdings in shares of Virtus Convertible & Income Fund by 250.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock valued at $30,000 after buying an additional 6,030 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Virtus Convertible & Income Fund in the 3rd quarter worth approximately $35,000. Jane Street Group LLC purchased a new stake in Virtus Convertible & Income Fund in the third quarter worth approximately $36,000. Finally, PVG Asset Management Corp purchased a new stake in Virtus Convertible & Income Fund in the third quarter worth approximately $45,000.

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.