Short Interest in Virtus Equity & Convertible Income Fund (NYSE:NIE) Decreases By 56.0%

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 25,112 shares, a drop of 56.0% from the December 31st total of 57,085 shares. Based on an average trading volume of 63,857 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 63,857 shares, the days-to-cover ratio is currently 0.4 days.

Virtus Equity & Convertible Income Fund Stock Down 0.3%

NYSE NIE traded down $0.08 during trading on Thursday, hitting $25.54. The stock had a trading volume of 76,000 shares, compared to its average volume of 70,468. The stock has a 50 day simple moving average of $25.30 and a 200 day simple moving average of $25.02. Virtus Equity & Convertible Income Fund has a one year low of $18.54 and a one year high of $26.00.

Virtus Equity & Convertible Income Fund Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, January 9th. Stockholders of record on Monday, December 29th were given a dividend of $0.526 per share. The ex-dividend date was Monday, December 29th.

Institutional Trading of Virtus Equity & Convertible Income Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. D.A. Davidson & CO. increased its holdings in Virtus Equity & Convertible Income Fund by 13.5% during the 4th quarter. D.A. Davidson & CO. now owns 79,938 shares of the company’s stock worth $1,992,000 after purchasing an additional 9,488 shares during the period. Calamos Advisors LLC increased its position in Virtus Equity & Convertible Income Fund by 159.9% during the 4th quarter. Calamos Advisors LLC now owns 42,188 shares of the company’s stock valued at $1,051,000 after purchasing an additional 25,955 shares during the period. OxenFree Capital LLC lifted its position in shares of Virtus Equity & Convertible Income Fund by 1.0% in the 4th quarter. OxenFree Capital LLC now owns 56,643 shares of the company’s stock worth $1,412,000 after purchasing an additional 556 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Virtus Equity & Convertible Income Fund by 25.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 67,182 shares of the company’s stock valued at $1,674,000 after buying an additional 13,817 shares during the period. Finally, Stolper Co raised its stake in Virtus Equity & Convertible Income Fund by 2.3% in the fourth quarter. Stolper Co now owns 32,642 shares of the company’s stock worth $813,000 after buying an additional 719 shares in the last quarter.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund (NYSE:NIE) is a diversified, closed-end management investment company designed to provide shareholders with a combination of current income and capital appreciation. The fund seeks to achieve its objectives by investing predominantly in convertible securities of U.S. and non-U.S. issuers alongside selected common stocks. Leveraging the hybrid characteristics of convertibles, the fund aims to capture income potential while maintaining exposure to equity market upside.

The fund’s investment strategy centers on a flexible allocation between fixed-income and equity components, with portfolio managers conducting rigorous credit and equity research to identify issuers offering attractive risk-reward profiles.