Virtus Global Multi-Sector Income Fund to Issue Monthly Dividend of $0.08 (NYSE:VGI)

Virtus Global Multi-Sector Income Fund (NYSE:VGI) announced a monthly dividend on Monday, November 20th, Wall Street Journal reports. Shareholders of record on Friday, January 12th will be paid a dividend of 0.08 per share on Tuesday, January 30th. This represents a $0.96 annualized dividend and a yield of 13.26%. The ex-dividend date is Thursday, January 11th.

Virtus Global Multi-Sector Income Fund has decreased its dividend payment by an average of 14.1% annually over the last three years.

Virtus Global Multi-Sector Income Fund Price Performance

Shares of Virtus Global Multi-Sector Income Fund stock traded up $0.01 on Monday, hitting $7.24. The stock had a trading volume of 38,043 shares, compared to its average volume of 34,321. The business’s 50 day moving average is $7.13 and its two-hundred day moving average is $7.42. Virtus Global Multi-Sector Income Fund has a twelve month low of $6.68 and a twelve month high of $8.60.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VGI. LPL Financial LLC boosted its position in shares of Virtus Global Multi-Sector Income Fund by 136.9% in the third quarter. LPL Financial LLC now owns 135,207 shares of the company’s stock valued at $992,000 after acquiring an additional 78,127 shares during the period. Logan Stone Capital LLC bought a new stake in Virtus Global Multi-Sector Income Fund in the 4th quarter valued at about $393,000. Bank of America Corp DE grew its position in shares of Virtus Global Multi-Sector Income Fund by 137.4% during the 1st quarter. Bank of America Corp DE now owns 50,101 shares of the company’s stock worth $497,000 after purchasing an additional 28,995 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Virtus Global Multi-Sector Income Fund by 25.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 57,902 shares of the company’s stock worth $450,000 after purchasing an additional 11,842 shares during the period. Finally, Creative Planning acquired a new stake in shares of Virtus Global Multi-Sector Income Fund in the second quarter valued at approximately $95,000.

Virtus Global Multi-Sector Income Fund Company Profile

Virtus Global Multi-Sector Income Fund is a closed ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc and Newfleet Asset Management, LLC. It invests in fixed income markets across the globe. The fund invests in both investment grade and high yield debt instruments issued by the government, corporate, bank loans, mortgage-backed securities, asset-backed securities, taxable municipal bonds, and tax-exempt municipal bonds.