Virtus Equity & Convertible Income Fund (NYSE:NIE) Trading Down 2.2% – What’s Next?

Virtus Equity & Convertible Income Fund (NYSE:NIE)’s stock price was down 2.2% during trading on Thursday . The stock traded as low as $25.02 and last traded at $25.1850. Approximately 61,805 shares traded hands during trading, an increase of 0% from the average daily volume of 61,781 shares. The stock had previously closed at $25.75.

Virtus Equity & Convertible Income Fund Stock Performance

The stock has a 50-day moving average price of $25.40 and a 200-day moving average price of $24.59.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Thursday, December 11th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $2.00 annualized dividend and a yield of 8.0%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC bought a new stake in Virtus Equity & Convertible Income Fund in the 3rd quarter valued at about $38,000. Westfuller Advisors LLC purchased a new stake in shares of Virtus Equity & Convertible Income Fund during the third quarter worth $53,000. CWM LLC boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 73.3% in the third quarter. CWM LLC now owns 3,327 shares of the company’s stock worth $84,000 after acquiring an additional 1,407 shares during the period. US Bancorp DE purchased a new position in shares of Virtus Equity & Convertible Income Fund in the third quarter valued at $104,000. Finally, NewEdge Advisors LLC raised its stake in shares of Virtus Equity & Convertible Income Fund by 9.8% during the 1st quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock valued at $153,000 after purchasing an additional 617 shares during the period.

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.