Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.95 and traded as high as $27.43. Virtus Diversified Income & Convertible Fund shares last traded at $26.76, with a volume of 22,660 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The company has a 50 day simple moving average of $27.68 and a 200-day simple moving average of $26.95.

Virtus Diversified Income & Convertible Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be paid a $0.18 dividend. This represents a c) dividend on an annualized basis and a yield of 8.3%. The ex-dividend date is Thursday, August 13th. Virtus Diversified Income & Convertible Fund’s payout ratio is currently 153.94%.

Institutional Investors Weigh In On Virtus Diversified Income & Convertible Fund

Several institutional investors have recently added to or reduced their stakes in ACV. Newbridge Financial Services Group Inc. purchased a new position in shares of Virtus Diversified Income & Convertible Fund in the second quarter worth about $27,000. CENTRAL TRUST Co purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the 1st quarter valued at approximately $36,000. International Assets Investment Management LLC purchased a new stake in shares of Virtus Diversified Income & Convertible Fund during the 4th quarter valued at approximately $73,000. Kestra Advisory Services LLC bought a new position in Virtus Diversified Income & Convertible Fund in the 4th quarter worth approximately $144,000. Finally, Integrated Wealth Concepts LLC bought a new position in Virtus Diversified Income & Convertible Fund in the 4th quarter worth approximately $205,000.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund (NYSE:ACV) is a closed-end management investment company that seeks to deliver total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of convertible securities, corporate bonds, dividend-paying common stocks and preferred securities. By blending credit and equity-linked instruments, ACV aims to generate attractive yield while participating in potential upside as issuers’ share prices appreciate.

The fund is managed by Virtus Investment Partners and employs a bottom-up, research-driven process to identify opportunities across sectors and geographies.