Virtus Equity & Convertible Income Fund (NYSE:NIE) Sees Large Drop in Short Interest

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 45,300 shares, a decrease of 30.9% from the January 31st total of 65,600 shares. Based on an average trading volume of 60,600 shares, the days-to-cover ratio is presently 0.7 days.

Virtus Equity & Convertible Income Fund Stock Performance

Shares of NIE traded down $0.10 during trading hours on Tuesday, hitting $23.60. 79,293 shares of the company were exchanged, compared to its average volume of 57,927. Virtus Equity & Convertible Income Fund has a fifty-two week low of $20.75 and a fifty-two week high of $25.44. The firm’s fifty day moving average is $24.60 and its 200 day moving average is $23.81.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of NIE. Raymond James Financial Inc. bought a new position in Virtus Equity & Convertible Income Fund in the 4th quarter valued at about $13,117,000. Advisors Asset Management Inc. boosted its position in shares of Virtus Equity & Convertible Income Fund by 11.7% during the 4th quarter. Advisors Asset Management Inc. now owns 1,065,736 shares of the company’s stock worth $26,281,000 after acquiring an additional 111,318 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Virtus Equity & Convertible Income Fund in the third quarter valued at approximately $1,692,000. Keystone Financial Group bought a new position in Virtus Equity & Convertible Income Fund in the fourth quarter valued at approximately $991,000. Finally, Wells Fargo & Company MN raised its position in Virtus Equity & Convertible Income Fund by 3.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,078,320 shares of the company’s stock valued at $26,591,000 after purchasing an additional 39,342 shares in the last quarter.

Virtus Equity & Convertible Income Fund Company Profile

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.