Virtus Global Multi-Sector Income Fund (NYSE:VGI) Stock Falls 2.3% – Here’s What Happened

Virtus Global Multi-Sector Income Fund (NYSE:VGI) fell 2.3% on Thursday. The stock traded as low as $6.74 and last traded at $6.79. Approximately 87,984 shares traded hands during mid-day trading, an increase of 118% from the average daily volume of 40,369 shares. The stock had previously closed at $6.95.

Virtus Global Multi-Sector Income Fund Price Performance

The stock has a 50-day moving average price of $7.24 and a two-hundred day moving average price of $7.38.

Virtus Global Multi-Sector Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.96 dividend on an annualized basis and a yield of 14.1%.

Institutional Trading of Virtus Global Multi-Sector Income Fund

Several large investors have recently added to or reduced their stakes in VGI. Sit Investment Associates Inc. raised its holdings in Virtus Global Multi-Sector Income Fund by 8.0% in the 4th quarter. Sit Investment Associates Inc. now owns 2,057,760 shares of the company’s stock worth $16,133,000 after purchasing an additional 151,690 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Virtus Global Multi-Sector Income Fund by 2.1% during the second quarter. CoreCap Advisors LLC now owns 173,428 shares of the company’s stock valued at $1,301,000 after buying an additional 3,645 shares during the period. Fiera Capital Corp increased its position in shares of Virtus Global Multi-Sector Income Fund by 41.8% during the fourth quarter. Fiera Capital Corp now owns 156,236 shares of the company’s stock valued at $1,225,000 after buying an additional 46,048 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Virtus Global Multi-Sector Income Fund by 106.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 123,258 shares of the company’s stock valued at $924,000 after buying an additional 63,666 shares during the period. Finally, Stephens Inc. AR raised its stake in Virtus Global Multi-Sector Income Fund by 11.4% in the first quarter. Stephens Inc. AR now owns 75,159 shares of the company’s stock worth $555,000 after buying an additional 7,670 shares in the last quarter.

Virtus Global Multi-Sector Income Fund Company Profile

Virtus Global Multi-Sector Income Fund (NYSE: VGI) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, capital appreciation. The fund invests across global fixed-income markets rather than concentrating on a single bond sector or geographic region.

Its portfolio may include corporate bonds, government and sovereign debt, emerging-market securities, mortgage- and asset-backed securities, bank loans, and other income-producing credit instruments.