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

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 30,655 shares, a drop of 44.3% from the January 15th total of 55,080 shares. Based on an average daily trading volume, of 148,083 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 148,083 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Alteri Wealth LLC grew its position in shares of Virtus Convertible & Income Fund by 9.1% during the 4th quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock worth $172,000 after buying an additional 946 shares during the period. CoreCap Advisors LLC boosted its stake in Virtus Convertible & Income Fund by 11.1% in the fourth quarter. CoreCap Advisors LLC now owns 16,005 shares of the investment management company’s stock valued at $242,000 after acquiring an additional 1,600 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Virtus Convertible & Income Fund by 0.3% during the 3rd quarter. Penserra Capital Management LLC now owns 621,398 shares of the investment management company’s stock worth $9,320,000 after acquiring an additional 1,724 shares during the period. Raymond James Financial Inc. grew its holdings in Virtus Convertible & Income Fund by 3.2% during the 2nd quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock worth $1,110,000 after acquiring an additional 2,388 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Virtus Convertible & Income Fund by 1.0% during the 3rd quarter. Bank of America Corp DE now owns 263,876 shares of the investment management company’s stock valued at $3,958,000 after acquiring an additional 2,669 shares during the last quarter.

Virtus Convertible & Income Fund Stock Up 0.5%

Shares of NYSE NCV traded up $0.08 during midday trading on Friday, hitting $16.53. The stock had a trading volume of 64,987 shares, compared to its average volume of 135,243. Virtus Convertible & Income Fund has a fifty-two week low of $11.51 and a fifty-two week high of $16.70. The company’s 50-day simple moving average is $15.66 and its 200 day simple moving average is $15.26.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 26th. Investors of record on Thursday, February 12th will be given a $0.136 dividend. This represents a c) dividend on an annualized basis and a yield of 9.9%. The ex-dividend date is Thursday, February 12th.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.