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

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 16,900 shares, a decrease of 26.2% from the February 28th total of 22,900 shares. Based on an average trading volume of 62,400 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its holdings in shares of Virtus Equity & Convertible Income Fund by 32,400.0% during the fourth quarter. CoreCap Advisors LLC now owns 1,300 shares of the company’s stock valued at $32,000 after acquiring an additional 1,296 shares in the last quarter. POM Investment Strategies LLC bought a new stake in Virtus Equity & Convertible Income Fund during the 4th quarter valued at $42,000. JPMorgan Chase & Co. raised its holdings in Virtus Equity & Convertible Income Fund by 29.1% during the third quarter. JPMorgan Chase & Co. now owns 2,881 shares of the company’s stock worth $66,000 after buying an additional 650 shares during the last quarter. Silverlake Wealth Management LLC bought a new position in shares of Virtus Equity & Convertible Income Fund in the fourth quarter valued at $201,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Virtus Equity & Convertible Income Fund during the fourth quarter valued at about $214,000.

Virtus Equity & Convertible Income Fund Price Performance

NIE stock opened at $22.14 on Friday. The company’s 50-day moving average is $23.93 and its 200-day moving average is $23.82. Virtus Equity & Convertible Income Fund has a 1 year low of $20.75 and a 1 year high of $25.44.

Virtus Equity & Convertible Income Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date of this dividend is Thursday, June 12th.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a closed ended equity 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 the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.