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

Shares of Virtus Convertible & Income Fund (NYSE:NCV) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.83 and traded as high as $13.50. Virtus Convertible & Income Fund shares last traded at $13.47, with a volume of 137,816 shares changing hands.

Virtus Convertible & Income Fund Stock Up 0.8%

The firm’s fifty day simple moving average is $12.83 and its 200 day simple moving average is $13.68.

Virtus Convertible & Income Fund Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.136 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a yield of 12.52%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in Virtus Convertible & Income Fund in the third quarter valued at about $36,000. Park Avenue Securities LLC boosted its stake in shares of Virtus Convertible & Income Fund by 3.8% in the 4th quarter. Park Avenue Securities LLC now owns 418,672 shares of the investment management company’s stock valued at $1,453,000 after purchasing an additional 15,247 shares in the last quarter. Congress Park Capital LLC boosted its stake in shares of Virtus Convertible & Income Fund by 11.5% in the 4th quarter. Congress Park Capital LLC now owns 1,743,406 shares of the investment management company’s stock valued at $6,050,000 after purchasing an additional 180,077 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Virtus Convertible & Income Fund by 15.2% during the 4th quarter. Atomi Financial Group Inc. now owns 25,874 shares of the investment management company’s stock valued at $90,000 after purchasing an additional 3,413 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in Virtus Convertible & Income Fund during the 4th quarter worth approximately $37,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.