AllianzGI Convertible & Income Fund (NYSE:NCV) Shares Cross Above 50-Day Moving Average of $5.62

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Shares of AllianzGI Convertible & Income Fund (NYSE:NCV) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.62 and traded as high as $5.89. AllianzGI Convertible & Income Fund shares last traded at $5.87, with a volume of 783,325 shares trading hands.

The stock’s fifty day moving average price is $5.62 and its 200-day moving average price is $4.94.

The company also recently declared a monthly dividend, which will be paid on Monday, February 1st. Stockholders of record on Thursday, January 14th will be issued a dividend of $0.0425 per share. The ex-dividend date is Wednesday, January 13th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 8.69%.

Hedge funds have recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC acquired a new position in AllianzGI Convertible & Income Fund in the 3rd quarter valued at approximately $46,000. 180 Wealth Advisors LLC acquired a new position in AllianzGI Convertible & Income Fund in the 3rd quarter valued at approximately $52,000. Avantax Advisory Services Inc. acquired a new position in AllianzGI Convertible & Income Fund in the 3rd quarter valued at approximately $67,000. Raymond James Financial Services Advisors Inc. increased its stake in AllianzGI Convertible & Income Fund by 30.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,466 shares of the investment management company’s stock valued at $121,000 after buying an additional 6,199 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in AllianzGI Convertible & Income Fund in the 3rd quarter valued at approximately $158,000.

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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