Virtus Diversified Income & Convertible Fund (NYSE:ACV) Stock Price Passes Above 200 Day Moving Average of $20.94

Virtus Diversified Income & Convertible Fund (NYSE:ACV)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.94 and traded as high as $23.05. Virtus Diversified Income & Convertible Fund shares last traded at $22.28, with a volume of 20,684 shares traded.

Virtus Diversified Income & Convertible Fund Price Performance

The firm has a 50-day moving average of $23.15 and a two-hundred day moving average of $20.97.

Virtus Diversified Income & Convertible Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be given a $0.18 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.16 annualized dividend and a yield of 9.72%. Virtus Diversified Income & Convertible Fund’s payout ratio is 130.91%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ACV. Raymond James & Associates grew its stake in shares of Virtus Diversified Income & Convertible Fund by 29.1% in the first quarter. Raymond James & Associates now owns 94,675 shares of the consumer goods maker’s stock valued at $2,409,000 after buying an additional 21,328 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Virtus Diversified Income & Convertible Fund by 12.0% in the first quarter. D.A. Davidson & CO. now owns 7,910 shares of the consumer goods maker’s stock valued at $201,000 after buying an additional 850 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Virtus Diversified Income & Convertible Fund in the first quarter valued at $311,000. Royal Bank of Canada grew its stake in shares of Virtus Diversified Income & Convertible Fund by 4.4% in the first quarter. Royal Bank of Canada now owns 42,153 shares of the consumer goods maker’s stock valued at $1,073,000 after buying an additional 1,774 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Virtus Diversified Income & Convertible Fund by 5.0% in the first quarter. Bank of America Corp DE now owns 136,497 shares of the consumer goods maker’s stock valued at $3,474,000 after buying an additional 6,502 shares in the last quarter.

About Virtus Diversified Income & Convertible Fund

Virtus Diversified Income & Convertible Fund is a closed-ended balanced 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 the public equity and fixed income markets. The fund primarily invests in diversified portfolio of convertible securities, income-producing equity securities, and income-producing debt and other instruments of varying maturities.