ACV Stock Summary and Trading Ideas (Allianzgi Diversified Income & Conv | NYSE:ACV)

The Fund is a diversified, limited term closed-end fund. The Fund's investment objective is to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. Under normal market conditions, the Fund will seek to achieve its investment objective by investing in a combination of convertible securities, debt and other income-producing instruments and common stocks and other equity securities. The Fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of convertible securities, income-producing equity securities and income-producing debt and other instruments of varying maturities. It is expected that substantially all of the Fund’s debt instruments and a substantial portion of its convertible securities will consist of securities rated below investment grade or unrated but determined by Allianz Global Investors U.S. LLC (“AGI U.S.”), the Fund’s sub-adviser, to be of comparable quality (sometimes referred to as “high yield securities” or “junk bonds”). The Fund can also employ a strategy of writing (selling) covered call options on the stocks held in the equity portion of the portfolio (the “Option Strategy”). The Option Strategy is designed to generate gains from option premiums in an attempt to enhance amounts available for distributions payable to the Fund’s shareholders. The Fund currently anticipates that it will utilize leverage as part of its investment strategy. The Fund includes a term limit provision, which provides that the Fund will terminate on its 15th anniversary in 2030, unless the term is extended by the Fund's Board of Trustees for up to one year or shareholders elect to extend the term. The Fund also includes a Repurchase Plan (the “Repurchase Plan”) with respect to the Fund’s common shares for a defined period following the Fund’s initial public offering in an attempt to provide additional liquidity in the marketplace for the Fund’s common shares. There can be no assurance that repurchases of the Fund’s common shares under the Repurchase Plan will cause the common shares to trade at a price equal to or in excess of net asset value (“NAV”) or prevent or reduce any trading discount.

Allianzgi Diversified Income & Conv trades on the NYSE stock market under the symbol ACV.

As of April 15, 2024, ACV stock price declined to $22.28 with 19,303 million shares trading.

ACV has a beta of 1.32, meaning it tends to be more sensitive to market movements. ACV has a correlation of 0.56 to the broad based SPY ETF.

ACV has a market cap of $231.06 million. This is considered a Small Cap stock.

In the last 3 years, ACV stock traded as high as $37.59 and as low as $16.82.

ACV has outperformed the market in the last year with a return of +27.1%, while the SPY ETF gained +25.3%. In the last 3 month period, ACV beat the market returning +6.7%, while SPY returned +6.2%. However, in the most recent 2 weeks ACV has underperformed the stock market by returning -6.2%, while SPY returned -3.6%.

ACV support price is $22.49 and resistance is $23.09 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ACV stock will trade within this expected range on the day.