Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Update

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 25,300 shares, a decline of 83.4% from the November 30th total of 152,200 shares. Based on an average daily trading volume, of 568,700 shares, the short-interest ratio is presently 0.0 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds have recently modified their holdings of the stock. MCF Advisors LLC acquired a new stake in shares of Virtus Convertible & Income Fund during the 2nd quarter worth about $29,000. Private Advisor Group LLC increased its holdings in shares of Virtus Convertible & Income Fund by 6.3% during the second quarter. Private Advisor Group LLC now owns 246,556 shares of the investment management company’s stock worth $806,000 after buying an additional 14,510 shares in the last quarter. Choreo LLC bought a new position in shares of Virtus Convertible & Income Fund in the second quarter valued at approximately $186,000. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund in the 2nd quarter worth approximately $307,000. Finally, Cornerstone Advisors LLC boosted its holdings in shares of Virtus Convertible & Income Fund by 17.3% in the 2nd quarter. Cornerstone Advisors LLC now owns 919,074 shares of the investment management company’s stock worth $3,005,000 after acquiring an additional 135,268 shares in the last quarter.

Virtus Convertible & Income Fund Stock Performance

NYSE NCV traded down $0.03 on Friday, reaching $3.50. The company’s stock had a trading volume of 315,925 shares, compared to its average volume of 518,997. Virtus Convertible & Income Fund has a 52 week low of $3.02 and a 52 week high of $3.73. The business has a 50-day moving average price of $3.55 and a 200 day moving average price of $3.45.

Virtus Convertible & Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $0.136 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.63 annualized dividend and a dividend yield of 46.63%.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.