Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Grows By 115.7%

Virtus Convertible & Income Fund (NYSE:NCV) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 41,200 shares, a growth of 115.7% from the August 31st total of 19,100 shares. Based on an average daily volume of 91,400 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 91,400 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its holdings in shares of Virtus Convertible & Income Fund by 13.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 711,902 shares of the investment management company’s stock worth $10,109,000 after acquiring an additional 83,219 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Virtus Convertible & Income Fund by 3.0% in the 2nd quarter. Penserra Capital Management LLC now owns 619,674 shares of the investment management company’s stock worth $8,799,000 after acquiring an additional 18,299 shares in the last quarter. Congress Park Capital LLC acquired a new position in shares of Virtus Convertible & Income Fund in the 2nd quarter worth approximately $7,722,000. Wolverine Asset Management LLC boosted its holdings in shares of Virtus Convertible & Income Fund by 49.5% in the 2nd quarter. Wolverine Asset Management LLC now owns 255,754 shares of the investment management company’s stock worth $3,632,000 after acquiring an additional 84,732 shares in the last quarter. Finally, Cornerstone Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund in the 2nd quarter worth approximately $1,580,000.

Virtus Convertible & Income Fund Stock Up 0.7%

NYSE NCV opened at $15.30 on Monday. The stock’s 50 day moving average is $14.76 and its two-hundred day moving average is $13.85. Virtus Convertible & Income Fund has a 1-year low of $11.51 and a 1-year high of $15.38.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be issued a $0.136 dividend. This represents a c) annualized dividend and a dividend yield of 10.7%. The ex-dividend date of this dividend is Thursday, November 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.