Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Down 26.0% in October

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 31,900 shares, a drop of 26.0% from the September 30th total of 43,100 shares. Based on an average daily volume of 64,700 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Large investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new stake in shares of Virtus Equity & Convertible Income Fund during the 2nd quarter worth about $689,000. International Assets Investment Management LLC lifted its holdings in Virtus Equity & Convertible Income Fund by 7.4% in the 2nd quarter. International Assets Investment Management LLC now owns 13,345 shares of the company’s stock worth $310,000 after purchasing an additional 925 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Virtus Equity & Convertible Income Fund by 13.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 32,096 shares of the company’s stock worth $746,000 after purchasing an additional 3,718 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Virtus Equity & Convertible Income Fund by 0.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 379,656 shares of the company’s stock valued at $8,823,000 after purchasing an additional 2,582 shares during the last quarter. Finally, OxenFree Capital LLC grew its holdings in Virtus Equity & Convertible Income Fund by 7.8% during the second quarter. OxenFree Capital LLC now owns 64,572 shares of the company’s stock valued at $1,501,000 after purchasing an additional 4,646 shares during the last quarter.

Virtus Equity & Convertible Income Fund Stock Up 0.3 %

Shares of Virtus Equity & Convertible Income Fund stock traded up $0.08 during trading on Friday, hitting $23.32. 43,365 shares of the stock traded hands, compared to its average volume of 66,605. The company has a fifty day moving average price of $22.87 and a two-hundred day moving average price of $22.64. Virtus Equity & Convertible Income Fund has a twelve month low of $18.61 and a twelve month high of $23.88.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 8.58%. The ex-dividend date of this dividend was Friday, September 13th.

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.