Virtus Convertible & Income Fund (NYSE:NCV) Sees Significant Increase in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 44,600 shares, a growth of 76.3% from the December 15th total of 25,300 shares. Based on an average trading volume of 564,700 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in shares of Virtus Convertible & Income Fund by 250.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock valued at $30,000 after acquiring an additional 6,030 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Virtus Convertible & Income Fund in the third quarter valued at approximately $35,000. Jane Street Group LLC purchased a new stake in Virtus Convertible & Income Fund in the third quarter valued at approximately $36,000. PVG Asset Management Corp bought a new stake in Virtus Convertible & Income Fund during the third quarter valued at approximately $45,000. Finally, Fortitude Family Office LLC grew its stake in Virtus Convertible & Income Fund by 33.9% in the 3rd quarter. Fortitude Family Office LLC now owns 13,387 shares of the investment management company’s stock worth $47,000 after buying an additional 3,387 shares in the last quarter.

Virtus Convertible & Income Fund Stock Up 0.6 %

Virtus Convertible & Income Fund stock opened at $3.42 on Wednesday. The firm’s 50 day simple moving average is $3.56 and its 200 day simple moving average is $3.47. Virtus Convertible & Income Fund has a 1-year low of $3.02 and a 1-year high of $3.73.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a dividend of $0.136 per share. This represents a $1.63 annualized dividend and a yield of 47.72%. The ex-dividend date of this dividend is Thursday, March 13th.

Virtus Convertible & Income Fund Company Profile

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.