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

Virtus Convertible & Income Fund (NYSE:NCV – Get Free Report) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $17.23 and traded as high as $17.34. Virtus Convertible & Income Fund shares last traded at $17.2350, with a volume of 71,622 shares changing hands.

Virtus Convertible & Income Fund Stock Up 1.4%

The firm’s 50-day moving average is $17.24 and its two-hundred day moving average is $16.31.

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Virtus Convertible & Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be paid a $0.136 dividend. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Thursday, August 13th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. boosted its holdings in Virtus Convertible & Income Fund by 3.2% in the second quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock valued at $1,110,000 after acquiring an additional 2,388 shares during the last quarter. Jane Street Group LLC bought a new stake in Virtus Convertible & Income Fund during the 2nd quarter worth about $155,000. Private Advisor Group LLC lifted its position in Virtus Convertible & Income Fund by 45.3% during the 3rd quarter. Private Advisor Group LLC now owns 118,102 shares of the investment management company’s stock valued at $1,772,000 after purchasing an additional 36,843 shares during the period. Bank of America Corp DE lifted its position in Virtus Convertible & Income Fund by 1.0% during the 3rd quarter. Bank of America Corp DE now owns 263,876 shares of the investment management company’s stock valued at $3,958,000 after purchasing an additional 2,669 shares during the period. Finally, Susquehanna International Group LLP lifted its position in Virtus Convertible & Income Fund by 83.3% during the 3rd quarter. Susquehanna International Group LLP now owns 22,803 shares of the investment management company’s stock valued at $342,000 after purchasing an additional 10,366 shares during the period.

About Virtus Convertible & Income Fund

(Get Free Report)

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.

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