Allianzgi Convertible & Income Fund (NYSE:NCV) Stock Passes Above 50-Day Moving Average of $5.94

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Allianzgi Convertible & Income Fund (NYSE:NCV)’s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $5.94 and traded as high as $6.06. Allianzgi Convertible & Income Fund shares last traded at $6.06, with a volume of 196,567 shares changing hands.

The business has a fifty day moving average of $5.95 and a 200 day moving average of $5.73.

The firm also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 13th will be given a dividend of $0.0525 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.63 annualized dividend and a dividend yield of 10.40%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC grew its holdings in shares of Allianzgi Convertible & Income Fund by 534.9% in the fourth quarter. FNY Investment Advisers LLC now owns 4,368 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,680 shares in the last quarter. Willingdon Wealth Management purchased a new position in Allianzgi Convertible & Income Fund in the 4th quarter valued at approximately $33,000. 180 Wealth Advisors LLC purchased a new position in Allianzgi Convertible & Income Fund in the 4th quarter valued at approximately $59,000. NEXT Financial Group Inc grew its stake in shares of Allianzgi Convertible & Income Fund by 32.7% in the fourth quarter. NEXT Financial Group Inc now owns 14,200 shares of the investment management company’s stock worth $82,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Arlington Capital Management Inc. acquired a new position in shares of Allianzgi Convertible & Income Fund in the third quarter worth $83,000.

Allianzgi Convertible & Income Fund Company Profile (NYSE:NCV)

AllianzGI 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.

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