Virtus Equity & Convertible Income Fund (NYSE:NIE) Announces Quarterly Dividend of $0.58

Virtus Equity & Convertible Income Fund (NYSE:NIE) announced a quarterly dividend on Wednesday, June 3rd. Stockholders of record on Monday, June 15th will be given a dividend of 0.58 per share on Monday, June 29th. This represents a c) annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Monday, June 15th. This is a 16.0% increase from Virtus Equity & Convertible Income Fund’s previous quarterly dividend of $0.50.

Virtus Equity & Convertible Income Fund Trading Down 0.1%

Shares of NYSE:NIE opened at $27.03 on Thursday. The company’s fifty day moving average is $25.48 and its 200 day moving average is $25.28. Virtus Equity & Convertible Income Fund has a 52 week low of $22.74 and a 52 week high of $27.19.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Large investors have recently added to or reduced their stakes in the business. OxenFree Capital LLC increased its position in shares of Virtus Equity & Convertible Income Fund by 1.0% in the fourth quarter. OxenFree Capital LLC now owns 56,643 shares of the company’s stock valued at $1,412,000 after acquiring an additional 556 shares during the period. NewEdge Advisors LLC boosted its stake in Virtus Equity & Convertible Income Fund by 9.8% during the first quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock worth $153,000 after acquiring an additional 617 shares in the last quarter. Stolper Co boosted its stake in Virtus Equity & Convertible Income Fund by 2.3% during the fourth quarter. Stolper Co now owns 32,642 shares of the company’s stock worth $813,000 after acquiring an additional 719 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in Virtus Equity & Convertible Income Fund by 3.5% during the fourth quarter. Cornerstone Wealth Management LLC now owns 26,412 shares of the company’s stock worth $658,000 after acquiring an additional 886 shares in the last quarter. Finally, PMG Family Office LLC boosted its stake in Virtus Equity & Convertible Income Fund by 7.5% during the first quarter. PMG Family Office LLC now owns 31,747 shares of the company’s stock worth $742,000 after acquiring an additional 2,223 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.