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

Virtus Convertible & Income Fund (NYSE:NCV) saw a large growth in short interest in the month of 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 short-interest ratio is presently 0.3 days.

Virtus Convertible & Income Fund Stock Up 0.2 %

Shares of Virtus Convertible & Income Fund stock traded up $0.03 during trading hours on Wednesday, reaching $13.02. 145,285 shares of the company were exchanged, compared to its average volume of 139,763. Virtus Convertible & Income Fund has a 1 year low of $12.06 and a 1 year high of $14.92. The stock’s fifty day moving average is $14.00 and its 200 day moving average is $14.04.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a $0.136 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 12.54%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Several institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Virtus Convertible & Income Fund by 0.8% in the fourth quarter. Advisors Asset Management Inc. now owns 2,640,144 shares of the investment management company’s stock valued at $9,161,000 after buying an additional 20,417 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Virtus Convertible & Income Fund in the 3rd quarter valued at about $8,974,000. Congress Park Capital LLC raised its position in shares of Virtus Convertible & Income Fund by 11.5% during the 4th quarter. Congress Park Capital LLC now owns 1,743,406 shares of the investment management company’s stock worth $6,050,000 after acquiring an additional 180,077 shares in the last quarter. LPL Financial LLC lifted its stake in Virtus Convertible & Income Fund by 34.5% during the fourth quarter. LPL Financial LLC now owns 1,037,074 shares of the investment management company’s stock worth $3,599,000 after purchasing an additional 265,938 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Virtus Convertible & Income Fund by 1.5% in the fourth quarter. Ameriprise Financial Inc. now owns 817,880 shares of the investment management company’s stock valued at $2,838,000 after purchasing an additional 11,697 shares in 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.