Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Decreases By 83.4%

Virtus Convertible & Income Fund (NYSE:NCV) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 25,300 shares, a decline of 83.4% from the November 30th total of 152,200 shares. Based on an average daily trading volume, of 568,700 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Several large investors have recently modified their holdings of the stock. Fortitude Family Office LLC raised its stake in Virtus Convertible & Income Fund by 33.9% during the 3rd quarter. Fortitude Family Office LLC now owns 13,387 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 3,387 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Virtus Convertible & Income Fund by 25.6% in the 3rd quarter. Atomi Financial Group Inc. now owns 22,461 shares of the investment management company’s stock valued at $79,000 after purchasing an additional 4,585 shares during the period. International Assets Investment Management LLC lifted its position in shares of Virtus Convertible & Income Fund by 250.0% in the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after purchasing an additional 6,030 shares in the last quarter. Integrated Capital Management Inc. boosted its holdings in shares of Virtus Convertible & Income Fund by 8.5% during the third quarter. Integrated Capital Management Inc. now owns 80,234 shares of the investment management company’s stock worth $281,000 after purchasing an additional 6,316 shares during the period. Finally, MCF Advisors LLC acquired a new stake in shares of Virtus Convertible & Income Fund during the second quarter worth approximately $29,000.

Virtus Convertible & Income Fund Stock Performance

NCV traded up $0.02 during trading on Thursday, reaching $3.53. The stock had a trading volume of 315,372 shares, compared to its average volume of 519,813. The stock has a 50 day moving average of $3.55 and a two-hundred day moving average of $3.45. Virtus Convertible & Income Fund has a 1-year low of $3.02 and a 1-year high of $3.73.

Virtus Convertible & Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $0.136 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.63 annualized dividend and a dividend yield of 46.23%.

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.