Virtus Convertible & Income Fund (NYSE:NCV) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Shares of Virtus Convertible & Income Fund (NYSE:NCV) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.46 and traded as low as $3.38. Virtus Convertible & Income Fund shares last traded at $3.43, with a volume of 654,012 shares trading hands.

Virtus Convertible & Income Fund Price Performance

The stock’s 50-day simple moving average is $3.56 and its 200 day simple moving average is $3.47.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $0.136 dividend. This represents a $1.63 annualized dividend and a dividend yield of 47.58%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Trading of Virtus Convertible & Income Fund

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its position in Virtus Convertible & Income Fund by 250.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after buying an additional 6,030 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund during the third quarter worth approximately $35,000. Jane Street Group LLC bought a new stake in shares of Virtus Convertible & Income Fund during the third quarter valued at approximately $36,000. PVG Asset Management Corp bought a new stake in shares of Virtus Convertible & Income Fund during the third quarter valued at approximately $45,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Virtus Convertible & Income Fund by 33.9% in the third quarter. Fortitude Family Office LLC now owns 13,387 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 3,387 shares in the last quarter.

Virtus Convertible & Income Fund Company Profile

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.