Virtus Convertible & Income Fund (NYSE:NCV) Stock Passes Below 200-Day Moving Average of $3.25

Virtus Convertible & Income Fund (NYSE:NCV) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.25 and traded as low as $3.20. Virtus Convertible & Income Fund shares last traded at $3.22, with a volume of 507,648 shares trading hands.

Virtus Convertible & Income Fund Stock Down 0.9 %

The company has a fifty day moving average of $3.19 and a 200 day moving average of $3.25.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 30th. Investors of record on Thursday, July 11th will be paid a dividend of $0.034 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 12.79%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC boosted its position in shares of Virtus Convertible & Income Fund by 852.9% during the first quarter. Cetera Advisors LLC now owns 257,936 shares of the investment management company’s stock worth $862,000 after acquiring an additional 230,867 shares during the last quarter. Virtu Financial LLC bought a new stake in Virtus Convertible & Income Fund in the 1st quarter worth approximately $128,000. SVB Wealth LLC purchased a new stake in shares of Virtus Convertible & Income Fund during the 1st quarter worth approximately $74,000. Advisors Asset Management Inc. boosted its position in shares of Virtus Convertible & Income Fund by 3,368.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,163,396 shares of the investment management company’s stock valued at $7,226,000 after acquiring an additional 2,101,026 shares during the last quarter. Finally, WNY Asset Management LLC increased its position in Virtus Convertible & Income Fund by 22.2% in the first quarter. WNY Asset Management LLC now owns 748,526 shares of the investment management company’s stock worth $2,500,000 after purchasing an additional 135,793 shares during the last quarter.

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.