Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Update

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 19,547 shares, an increase of 231.7% from the April 15th total of 5,893 shares. Based on an average daily volume of 58,306 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 0.3% in the fourth quarter. Advisors Asset Management Inc. now owns 863,318 shares of the company’s stock valued at $21,514,000 after acquiring an additional 2,998 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 2.0% in the fourth quarter. Royal Bank of Canada now owns 571,160 shares of the company’s stock valued at $14,234,000 after acquiring an additional 11,079 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 14.0% in the fourth 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 401,952 shares of the company’s stock valued at $10,165,000 after acquiring an additional 5,959 shares in the last quarter. Finally, Saba Capital Management L.P. boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 21.2% in the first quarter. Saba Capital Management L.P. now owns 361,316 shares of the company’s stock valued at $8,440,000 after acquiring an additional 63,116 shares in the last quarter.

Virtus Equity & Convertible Income Fund Stock Down 1.0%

Shares of NYSE:NIE traded down $0.28 during midday trading on Friday, hitting $26.70. The stock had a trading volume of 58,726 shares, compared to its average volume of 60,481. The stock has a 50 day moving average price of $24.87 and a two-hundred day moving average price of $25.19. Virtus Equity & Convertible Income Fund has a 1 year low of $22.74 and a 1 year high of $27.02.

Virtus Equity & Convertible Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 annualized dividend and a dividend yield of 7.5%.

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.