Shaker Financial Services LLC Purchases 63,656 Shares of Virtus Convertible & Income Fund II (NYSE:NCZ)

Shaker Financial Services LLC increased its position in shares of Virtus Convertible & Income Fund II (NYSE:NCZ) by 50.1% during the third quarter, HoldingsChannel reports. The fund owned 190,638 shares of the investment management company’s stock after buying an additional 63,656 shares during the quarter. Shaker Financial Services LLC’s holdings in Virtus Convertible & Income Fund II were worth $593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new stake in shares of Virtus Convertible & Income Fund II during the third quarter worth about $40,000. Greenleaf Trust acquired a new position in Virtus Convertible & Income Fund II in the 3rd quarter valued at approximately $77,000. Private Advisor Group LLC raised its stake in shares of Virtus Convertible & Income Fund II by 7.0% during the first quarter. Private Advisor Group LLC now owns 125,983 shares of the investment management company’s stock valued at $377,000 after acquiring an additional 8,291 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund II during the first quarter worth $877,000. Finally, Integrated Capital Management Inc. grew its stake in shares of Virtus Convertible & Income Fund II by 6.0% in the third quarter. Integrated Capital Management Inc. now owns 81,897 shares of the investment management company’s stock worth $255,000 after purchasing an additional 4,646 shares during the last quarter.

Virtus Convertible & Income Fund II Stock Performance

NYSE NCZ opened at $3.15 on Friday. Virtus Convertible & Income Fund II has a twelve month low of $2.62 and a twelve month high of $3.22. The stock has a fifty day simple moving average of $3.07 and a 200 day simple moving average of $2.96.

Virtus Convertible & Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 11.43%.

Virtus Convertible & Income Fund II Profile

Virtus Convertible & Income Fund II 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.