Virtus Convertible & Income Fund II (NYSE:NCZ) Short Interest Update

Virtus Convertible & Income Fund II (NYSE:NCZ) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 90,400 shares, an increase of 228.7% from the September 30th total of 27,500 shares. Based on an average daily volume of 535,400 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund II

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in Virtus Convertible & Income Fund II by 20.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,037,395 shares of the investment management company’s stock worth $6,092,000 after acquiring an additional 344,715 shares during the last quarter. Congress Park Capital LLC raised its stake in Virtus Convertible & Income Fund II by 58.1% in the 3rd quarter. Congress Park Capital LLC now owns 1,373,401 shares of the investment management company’s stock worth $4,271,000 after acquiring an additional 504,854 shares during the last quarter. Cetera Advisors LLC purchased a new position in Virtus Convertible & Income Fund II in the 1st quarter worth $877,000. Private Advisor Group LLC raised its stake in Virtus Convertible & Income Fund II by 7.0% in the 1st quarter. Private Advisor Group LLC now owns 125,983 shares of the investment management company’s stock worth $377,000 after acquiring an additional 8,291 shares during the last quarter. Finally, Integrated Capital Management Inc. raised its stake in Virtus Convertible & Income Fund II by 6.0% in the 3rd quarter. Integrated Capital Management Inc. now owns 81,897 shares of the investment management company’s stock worth $255,000 after acquiring an additional 4,646 shares during the last quarter.

Virtus Convertible & Income Fund II Stock Performance

Shares of NCZ traded down $0.05 during midday trading on Friday, hitting $3.05. 997,863 shares of the company’s stock traded hands, compared to its average volume of 498,493. Virtus Convertible & Income Fund II has a 1 year low of $2.50 and a 1 year high of $3.22. The firm’s fifty day moving average is $3.05 and its 200-day moving average is $2.94.

Virtus Convertible & Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.36 annualized dividend and a dividend yield of 11.80%.

Virtus Convertible & Income Fund II Company Profile

Virtus Convertible & Income Fund II 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.