Virtus Convertible & Income Fund (NYSE:NCV) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Virtus Convertible & Income Fund (NYSE:NCV) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $16.64 and traded as low as $16.03. Virtus Convertible & Income Fund shares last traded at $16.09, with a volume of 65,485 shares trading hands.

Virtus Convertible & Income Fund Trading Down 1.6%

The business has a fifty day moving average of $16.60 and a 200 day moving average of $16.57.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be issued a $0.136 dividend. This represents a c) annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Thursday, November 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

A number of large investors have recently made changes to their positions in NCV. Integrated Wealth Concepts LLC acquired a new stake in Virtus Convertible & Income Fund during the 2nd quarter worth approximately $82,000. NewEdge Advisors LLC grew its holdings in Virtus Convertible & Income Fund by 20.0% in the 2nd quarter. NewEdge Advisors LLC now owns 85,040 shares of the investment management company’s stock valued at $1,496,000 after buying an additional 14,199 shares in the last quarter. Trust Co. of Vermont acquired a new position in Virtus Convertible & Income Fund in the 2nd quarter valued at $29,000. CoreCap Advisors LLC increased its position in Virtus Convertible & Income Fund by 6.6% during the 2nd quarter. CoreCap Advisors LLC now owns 72,675 shares of the investment management company’s stock worth $1,278,000 after buying an additional 4,475 shares during the period. Finally, Readystate Asset Management LP increased its position in Virtus Convertible & Income Fund by 39.5% during the 1st quarter. Readystate Asset Management LP now owns 36,738 shares of the investment management company’s stock worth $547,000 after buying an additional 10,403 shares during the period.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund (NYSE: NCV) is a closed-end investment fund that seeks to provide current income and capital appreciation. The fund invests primarily in convertible securities, which may offer income potential along with the ability to participate in the equity performance of the issuing company.

In addition to convertible securities, the fund may invest in income-producing securities such as corporate debt, high-yield bonds, preferred stocks and other fixed-income instruments.