Virtus Equity & Convertible Income Fund (NYSE:NIE) Trading 1.4% Higher

Virtus Equity & Convertible Income Fund (NYSE:NIE) rose 1.4% during trading on Thursday . The stock traded as high as $22.50 and last traded at $22.41. Approximately 70,391 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 69,085 shares. The stock had previously closed at $22.10.

Virtus Equity & Convertible Income Fund Stock Up 0.4 %

The business’s fifty day simple moving average is $22.79 and its two-hundred day simple moving average is $22.32.

Virtus Equity & Convertible Income Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.90%. The ex-dividend date was Thursday, June 13th.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new stake in shares of Virtus Equity & Convertible Income Fund in the 4th quarter valued at $431,000. Stonebrook Private Inc. acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 4th quarter valued at $484,000. Level Four Advisory Services LLC boosted its holdings in Virtus Equity & Convertible Income Fund by 9.0% during the fourth quarter. Level Four Advisory Services LLC now owns 12,409 shares of the company’s stock worth $259,000 after buying an additional 1,022 shares during the last quarter. Cornerstone Advisors LLC increased its stake in Virtus Equity & Convertible Income Fund by 101.7% in the fourth quarter. Cornerstone Advisors LLC now owns 104,430 shares of the company’s stock valued at $2,184,000 after purchasing an additional 52,666 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Virtus Equity & Convertible Income Fund by 4.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 93,866 shares of the company’s stock worth $1,963,000 after acquiring an additional 3,939 shares in the last quarter.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a closed ended equity 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 the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.