Virtus Convertible & Income Fund (NYSE:NCV) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Virtus Convertible & Income Fund (NYSE:NCV)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.46 and traded as low as $3.38. Virtus Convertible & Income Fund shares last traded at $3.43, with a volume of 654,012 shares trading hands.

Virtus Convertible & Income Fund Price Performance

The business has a 50 day moving average price of $3.56 and a 200 day moving average price of $3.47.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a $0.136 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.63 annualized dividend and a dividend yield of 47.58%.

Institutional Trading of Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PVG Asset Management Corp bought a new stake in shares of Virtus Convertible & Income Fund in the third quarter valued at about $45,000. Jane Street Group LLC bought a new stake in shares of Virtus Convertible & Income Fund in the 3rd quarter worth approximately $36,000. Ionic Capital Management LLC acquired a new stake in shares of Virtus Convertible & Income Fund during the 3rd quarter worth approximately $64,000. Larson Financial Group LLC increased its position in shares of Virtus Convertible & Income Fund by 226.1% during the third 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. Finally, Penserra Capital Management LLC acquired a new position in shares of Virtus Convertible & Income Fund in the third quarter valued at $8,974,000.

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.