Virtus Total Return Fund (NYSE:ZTR) Share Price Passes Below 200 Day Moving Average - Here's Why

Key Points

• Virtus Total Return Fund shares slipped below their 200-day moving average, reaching $6.74 before last trading at $6.77, down 0.3%. The 50-day moving average was $6.79.
• The fund announced a monthly dividend of $0.055 per share, payable August 28 to shareholders of record August 13, representing a reported 9.7% annualized yield.
• Institutional investors and hedge funds own 47.14% of ZTR, with several firms increasing or initiating positions recently. The closed-end fund invests across fixed income, equities, preferred stocks and REITs.

Virtus Total Return Fund Inc. (NYSE:ZTR - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.77 and traded as low as $6.74. Virtus Total Return Fund shares last traded at $6.77, with a volume of 43,014 shares trading hands.

Virtus Total Return Fund Stock Down 0.3%

The stock has a 50 day moving average price of $6.79 and a 200 day moving average price of $6.77.

Virtus Total Return Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be issued a $0.055 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date is Thursday, August 13th.

Institutional Investors Weigh In On Virtus Total Return Fund

A number of institutional investors and hedge funds have recently modified their holdings of ZTR. CWM LLC increased its position in shares of Virtus Total Return Fund by 854.9% in the fourth quarter. CWM LLC now owns 7,582 shares of the investment management company's stock worth $48,000 after acquiring an additional 6,788 shares in the last quarter. HRT Financial LP purchased a new stake in shares of Virtus Total Return Fund in the fourth quarter valued at $63,000. Bayban purchased a new stake in shares of Virtus Total Return Fund in the fourth quarter valued at $65,000. Closed End Fund Advisors Inc. acquired a new stake in shares of Virtus Total Return Fund in the fourth quarter worth $66,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Virtus Total Return Fund by 21.9% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,578 shares of the investment management company's stock worth $113,000 after buying an additional 2,982 shares during the period. 47.14% of the stock is owned by institutional investors and hedge funds.

About Virtus Total Return Fund

Virtus Total Return Fund, Inc NYSE: ZTR is a closed-end management investment company that seeks to provide investors with high total return with moderate income. The fund, which began operations in 2005, trades on the New York Stock Exchange and is sponsored by Virtus Investment Partners. ZTR offers investors access to a diversified mix of fixed-income and equity opportunities within a single vehicle.

To pursue its stated objective, the fund typically allocates across a broad range of asset classes, including corporate debt securities, high-yield bonds, convertible securities, preferred stocks, common stocks and real estate investment trusts (REITs).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source