Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.28 and traded as high as $23.34. Virtus Diversified Income & Convertible Fund shares last traded at $22.84, with a volume of 29,078 shares trading hands.

Virtus Diversified Income & Convertible Fund Trading Down 1.3 %

The stock has a fifty day moving average price of $21.85 and a two-hundred day moving average price of $21.28.

Virtus Diversified Income & Convertible Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $2.16 dividend on an annualized basis and a yield of 9.46%. Virtus Diversified Income & Convertible Fund’s dividend payout ratio (DPR) is presently 130.91%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ACV. Raleigh Capital Management Inc. grew its position in Virtus Diversified Income & Convertible Fund by 23.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,346 shares of the consumer goods maker’s stock valued at $72,000 after buying an additional 637 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Virtus Diversified Income & Convertible Fund by 7.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 25,423 shares of the consumer goods maker’s stock worth $539,000 after acquiring an additional 1,864 shares during the period. International Assets Investment Management LLC bought a new position in shares of Virtus Diversified Income & Convertible Fund in the second quarter valued at approximately $51,000. Commonwealth Equity Services LLC increased its stake in shares of Virtus Diversified Income & Convertible Fund by 42.1% during the second quarter. Commonwealth Equity Services LLC now owns 12,640 shares of the consumer goods maker’s stock valued at $268,000 after acquiring an additional 3,745 shares during the period. Finally, Raymond James & Associates raised its holdings in Virtus Diversified Income & Convertible Fund by 5.0% during the third quarter. Raymond James & Associates now owns 136,344 shares of the consumer goods maker’s stock worth $2,926,000 after purchasing an additional 6,441 shares in the last quarter.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund is a closed-ended balanced 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 the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.