Virtus Convertible & Income Fund (NYSE:NCV) Shares Cross Above 50-Day Moving Average – Should You Sell?

Virtus Convertible & Income Fund (NYSE:NCV)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.77 and traded as high as $16.33. Virtus Convertible & Income Fund shares last traded at $16.25, with a volume of 88,997 shares traded.

Virtus Convertible & Income Fund Stock Performance

The stock’s 50-day moving average is $15.77 and its two-hundred day moving average is $15.55.

Virtus Convertible & Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 11th will be given a dividend of $0.136 per share. The ex-dividend date is Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. grew its stake in shares of Virtus Convertible & Income Fund by 3.2% in the 2nd quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock worth $1,110,000 after buying an additional 2,388 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Virtus Convertible & Income Fund in the 2nd quarter valued at about $155,000. Osaic Holdings Inc. grew its position in Virtus Convertible & Income Fund by 66.1% in the second quarter. Osaic Holdings Inc. now owns 89,247 shares of the investment management company’s stock worth $1,267,000 after acquiring an additional 35,526 shares in the last quarter. Congress Park Capital LLC grew its position in Virtus Convertible & Income Fund by 16.6% in the third quarter. Congress Park Capital LLC now owns 633,850 shares of the investment management company’s stock worth $9,508,000 after acquiring an additional 90,027 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its position in Virtus Convertible & Income Fund by 649.9% during the third quarter. Blue Bell Private Wealth Management LLC now owns 6,749 shares of the investment management company’s stock valued at $101,000 after purchasing an additional 5,849 shares during the period.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.