Virtus Convertible & Income Fund (NYSE:NCV) Sees Large Growth in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 44,600 shares, an increase of 76.3% from the December 15th total of 25,300 shares. Based on an average daily volume of 564,700 shares, the days-to-cover ratio is currently 0.1 days.

Virtus Convertible & Income Fund Price Performance

NCV stock traded up $0.03 during midday trading on Friday, hitting $3.56. 1,414,827 shares of the company’s stock were exchanged, compared to its average volume of 627,257. The firm has a 50 day moving average price of $3.56 and a 200-day moving average price of $3.47. Virtus Convertible & Income Fund has a 12-month low of $3.02 and a 12-month high of $3.73.

Virtus Convertible & Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $0.136 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 45.91%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in shares of Virtus Convertible & Income Fund by 250.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after purchasing an additional 6,030 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Virtus Convertible & Income Fund during the third quarter valued at approximately $35,000. Jane Street Group LLC bought a new position in Virtus Convertible & Income Fund during the 3rd quarter worth approximately $36,000. PVG Asset Management Corp acquired a new position in shares of Virtus Convertible & Income Fund in the 3rd quarter worth approximately $45,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Virtus Convertible & Income Fund by 33.9% in the 3rd quarter. Fortitude Family Office LLC now owns 13,387 shares of the investment management company’s stock valued at $47,000 after acquiring an additional 3,387 shares during the last quarter.

Virtus Convertible & Income Fund Company Profile

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.