Virtus Global Dividend & Income Fund Inc. (NYSE:ZTR) Shares Sold by Saba Capital Management L.P.

Saba Capital Management L.P. cut its stake in Virtus Global Dividend & Income Fund Inc. (NYSE:ZTR - Free Report) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 608,509 shares of the investment management company's stock after selling 76,469 shares during the quarter. Saba Capital Management L.P.'s holdings in Virtus Global Dividend & Income Fund were worth $3,566,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ZTR. Park Avenue Securities LLC lifted its position in shares of Virtus Global Dividend & Income Fund by 2.0% in the fourth quarter. Park Avenue Securities LLC now owns 234,351 shares of the investment management company's stock valued at $1,373,000 after acquiring an additional 4,602 shares in the last quarter. Absolute Investment Advisers LLC acquired a new position in Virtus Global Dividend & Income Fund in the 4th quarter valued at $9,355,000. Truist Financial Corp purchased a new position in Virtus Global Dividend & Income Fund in the 4th quarter valued at $168,000. IFP Advisors Inc acquired a new stake in Virtus Global Dividend & Income Fund during the 4th quarter worth $29,000. Finally, Raymond James Financial Inc. acquired a new stake in Virtus Global Dividend & Income Fund during the 4th quarter worth $886,000. 47.14% of the stock is currently owned by institutional investors and hedge funds.

Virtus Global Dividend & Income Fund Price Performance

Shares of NYSE ZTR traded down $0.05 during mid-day trading on Wednesday, reaching $6.16. The company's stock had a trading volume of 144,653 shares, compared to its average volume of 253,590. The stock has a 50-day moving average of $5.90 and a two-hundred day moving average of $5.92. Virtus Global Dividend & Income Fund Inc. has a 1-year low of $5.22 and a 1-year high of $6.26.

Virtus Global Dividend & Income Fund Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, May 29th. Shareholders of record on Tuesday, May 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a yield of 9.85%.

Virtus Global Dividend & Income Fund Profile

Virtus Global Dividend & Income Fund Inc is a closed-ended balanced mutual fund launched by Virtus Investment Partners, Inc The fund is co-managed by Virtus Investment Advisers, Inc, Kayne Anderson Rudnick Investment Management LLC and Newfleet Asset Management, LLC. It invests in the public equity and fixed income markets of the United States.