Virtus Convertible & Income Fund II (NYSE:NCZ) Short Interest Down 66.7% in January

Virtus Convertible & Income Fund II (NYSE:NCZ) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 144,400 shares, a decline of 66.7% from the January 15th total of 433,200 shares. Based on an average trading volume of 84,500 shares, the days-to-cover ratio is presently 1.7 days.

Virtus Convertible & Income Fund II Price Performance

Virtus Convertible & Income Fund II stock traded down $0.13 during mid-day trading on Wednesday, reaching $12.62. 145,525 shares of the company’s stock traded hands, compared to its average volume of 96,176. Virtus Convertible & Income Fund II has a 12-month low of $10.80 and a 12-month high of $13.44. The stock has a 50 day moving average of $3.61 and a two-hundred day moving average of $3.26.

Virtus Convertible & Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.41%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC bought a new position in Virtus Convertible & Income Fund II during the third quarter valued at $40,000. Wealth Effects LLC purchased a new position in shares of Virtus Convertible & Income Fund II during the 3rd quarter worth about $44,000. Illumine Investment Management LLC purchased a new position in shares of Virtus Convertible & Income Fund II during the 4th quarter worth about $59,000. Virtu Financial LLC grew its holdings in Virtus Convertible & Income Fund II by 44.2% during the 3rd quarter. Virtu Financial LLC now owns 20,137 shares of the investment management company’s stock valued at $63,000 after purchasing an additional 6,176 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Virtus Convertible & Income Fund II in the 2nd quarter worth about $59,000.

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.