Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Down 36.9% in August

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 340,500 shares, a decrease of 36.9% from the August 15th total of 540,000 shares. Based on an average daily trading volume, of 572,200 shares, the short-interest ratio is currently 0.6 days.

Virtus Convertible & Income Fund Trading Down 0.3 %

Virtus Convertible & Income Fund stock traded down $0.01 during mid-day trading on Monday, hitting $3.43. The company’s stock had a trading volume of 211,962 shares, compared to its average volume of 509,364. The stock’s fifty day moving average is $3.40 and its two-hundred day moving average is $3.29. Virtus Convertible & Income Fund has a 1 year low of $2.84 and a 1 year high of $3.48.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th will be given a dividend of $0.034 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 11.90%. The ex-dividend date of this dividend is Tuesday, November 12th.

Institutional Trading of Virtus Convertible & Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. SVB Wealth LLC purchased a new stake in shares of Virtus Convertible & Income Fund in the 1st quarter valued at approximately $74,000. Advisors Asset Management Inc. lifted its stake in Virtus Convertible & Income Fund by 3,368.6% during the first quarter. Advisors Asset Management Inc. now owns 2,163,396 shares of the investment management company’s stock worth $7,226,000 after purchasing an additional 2,101,026 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Virtus Convertible & Income Fund by 4.4% during the first quarter. Private Advisor Group LLC now owns 232,046 shares of the investment management company’s stock worth $775,000 after buying an additional 9,828 shares during the period. WNY Asset Management LLC grew its stake in shares of Virtus Convertible & Income Fund by 22.2% in the first quarter. WNY Asset Management LLC now owns 748,526 shares of the investment management company’s stock valued at $2,500,000 after buying an additional 135,793 shares in the last quarter. Finally, Hartline Investment Corp purchased a new stake in shares of Virtus Convertible & Income Fund in the 1st quarter valued at $35,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.