Allianzgi Convertible & Income Fund (NYSE:NCV) Stock Passes Below 50 Day Moving Average of $5.78

Allianzgi Convertible & Income Fund (NYSE:NCV) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.78 and traded as low as $5.44. Allianzgi Convertible & Income Fund shares last traded at $5.53, with a volume of 18,655 shares.

The company’s 50 day moving average price is $5.78 and its 200 day moving average price is $5.96.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a dividend of $0.052 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.62 annualized dividend and a dividend yield of 11.22%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning grew its stake in Allianzgi Convertible & Income Fund by 23.3% in the 2nd quarter. Creative Planning now owns 25,044 shares of the investment management company’s stock valued at $142,000 after buying an additional 4,730 shares during the last quarter. Coastal Investment Advisors Inc. acquired a new position in Allianzgi Convertible & Income Fund in the 2nd quarter valued at $43,000. Wedbush Securities Inc. acquired a new position in Allianzgi Convertible & Income Fund in the 2nd quarter valued at $62,000. Gladstone Institutional Advisory LLC acquired a new position in Allianzgi Convertible & Income Fund in the 2nd quarter valued at $76,000. Finally, Commonwealth Equity Services LLC grew its stake in Allianzgi Convertible & Income Fund by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 319,012 shares of the investment management company’s stock valued at $1,802,000 after buying an additional 13,618 shares during the last quarter.

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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