Virtus Equity & Convertible Income Fund (NIE) To Go Ex-Dividend on March 16th

Virtus Equity & Convertible Income Fund (NYSE:NIE) announced a quarterly dividend on Wednesday, March 4th. Investors of record on Monday, March 16th will be given a dividend of 0.50 per share on Monday, March 30th. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Monday, March 16th.

Virtus Equity & Convertible Income Fund Price Performance

NIE stock opened at $25.18 on Friday. The company’s 50-day moving average price is $25.38 and its 200 day moving average price is $25.24. Virtus Equity & Convertible Income Fund has a 52 week low of $18.54 and a 52 week high of $26.00.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Several hedge funds have recently bought and sold shares of NIE. Saba Capital Management L.P. acquired a new position in Virtus Equity & Convertible Income Fund during the fourth quarter worth $7,431,000. Cornerstone Advisors LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund during the 2nd quarter worth $2,705,000. World Investment Advisors acquired a new position in shares of Virtus Equity & Convertible Income Fund during the 3rd quarter worth $2,438,000. Evolve Private Wealth LLC purchased a new stake in shares of Virtus Equity & Convertible Income Fund in the 4th quarter worth about $2,028,000. Finally, Guggenheim Capital LLC grew its stake in Virtus Equity & Convertible Income Fund by 14.0% in the 4th quarter. Guggenheim Capital LLC now owns 479,040 shares of the company’s stock valued at $11,938,000 after acquiring an additional 58,661 shares during 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.