The share price of Zweig Total Return Fund, Inc. which trades its stock as NYSE: ZTR, recently passed below its moving average of the 200 days on Jul 21, Tuesday, this week. The 200-day moving average of the ZTR stock has been $9.16. They went down to $8.12 and presently have further fallen, being traded at $8.06. The stocks of ZTR Fund have a previous close of $8.09 with a share volume of 81,286.
What we now know about the market position of ZTR Fund?
Recently, the share price of the stock NYSE: ZTR at https://www.webull.com/quote/nyse-ztr has not only fallen below its 200-day moving average but also its 50-day moving average which has been $8.39. The company has also announced the monthly dividend to be paid on September 18, Friday. It should be noted by investors on record on September 11, that they will be paid $0.08 per share as the dividend and the date for ex-dividend is September 10. With these figures, it can be estimated that if we annualize the dividend, it will amount to $0.96 with 11.72% in yield.
However, shares of Zweig Total Return Fund have been recently bought and sold by numerous hedge funds as well as institutional investors. Morgan Stanley moved up its position in the ZTR Fund by 4.2% in the first quarter of 2020. A total of 1,292,867 shares of NYSE: ZTR are owned by Morgan Stanley, that value $9,309,000. This includes the increased 52,206 shares it purchased during the period. Similarly, Centaurus Financial Inc moved up its position in the company by 8.8% in the first quarter, now owns 5,829,296 shares in the stock that value $4,243,000. It purchased 47,807 new shares in the company during this period. Other institutional investors like Advisors Asset Management Inc, Guggenheim Capital LLC, and Sigma Planning Corp also increased their positions in the fund during the period. Guggenheim now has 311,208 of NYSE: ZTR shares purchasing 217,581 shares in the previous quarter and moving up by 232.4%. Of the total stock of The Zweig Total Return Fund, 8.86% is presently owned by institutional investors and hedge funds.
Impact of COVID-19 pandemic on the Zweig Total Return Fund
Like most of the stock market, the coronavirus pandemic has hit the business of Zweig Total Return Fund for the worse. The stock was being exchanged at $8.98 on March 11, 2020, when it was declared by the WHO that the outbreak was a pandemic. Since that declaration, there has been a noticeable decrease of 10.2% in the NYSE: ZTR stock which is now trading at the price of $8.06. Amidst all this, the coverage received by the Zweig Total Return Fund has been quite positive all this time. If you do not know where to buy stocks online , you can download the stock trading app for that.Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.
