Virtus Convertible & Income Fund (NYSE:NCV) Sees Significant Increase in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 44,300 shares, a growth of 460.8% from the February 13th total of 7,900 shares. Based on an average daily trading volume, of 136,700 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in Virtus Convertible & Income Fund during the third quarter worth about $36,000. Kingswood Wealth Advisors LLC bought a new position in Virtus Convertible & Income Fund in the fourth quarter valued at about $37,000. Meridian Wealth Management LLC acquired a new position in shares of Virtus Convertible & Income Fund during the fourth quarter worth $43,000. PVG Asset Management Corp acquired a new stake in shares of Virtus Convertible & Income Fund in the third quarter valued at about $45,000. Finally, Larson Financial Group LLC raised its holdings in Virtus Convertible & Income Fund by 226.1% during the 3rd quarter. Larson Financial Group LLC now owns 15,000 shares of the investment management company’s stock worth $52,000 after purchasing an additional 10,400 shares during the last quarter.

Virtus Convertible & Income Fund Trading Down 0.5 %

Shares of Virtus Convertible & Income Fund stock traded down $0.06 during trading on Thursday, reaching $12.80. The company’s stock had a trading volume of 28,643 shares, compared to its average volume of 137,421. The business’s 50-day moving average price is $13.98 and its 200-day moving average price is $14.03. Virtus Convertible & Income Fund has a 52 week low of $12.06 and a 52 week high of $14.92.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.136 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 12.75%.

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.