Virtus Convertible & Income Fund II (NYSE:NCZ) Sees Significant Increase in Short Interest

Virtus Convertible & Income Fund II (NYSE:NCZ) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 311,600 shares, a growth of 393.0% from the October 31st total of 63,200 shares. Based on an average trading volume of 446,800 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of Virtus Convertible & Income Fund II

A number of large investors have recently modified their holdings of the company. SVB Wealth LLC acquired a new stake in Virtus Convertible & Income Fund II in the 1st quarter valued at approximately $75,000. Cetera Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund II during the first quarter valued at $877,000. Integrated Capital Management Inc. raised its stake in shares of Virtus Convertible & Income Fund II by 19.4% during the second quarter. Integrated Capital Management Inc. now owns 77,251 shares of the investment management company’s stock valued at $226,000 after purchasing an additional 12,567 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new stake in Virtus Convertible & Income Fund II in the second quarter worth about $32,000. Finally, Choreo LLC bought a new position in Virtus Convertible & Income Fund II in the 2nd quarter valued at about $211,000.

Virtus Convertible & Income Fund II Trading Up 0.9 %

Shares of NYSE NCZ traded up $0.03 during mid-day trading on Wednesday, hitting $3.28. The company had a trading volume of 164,739 shares, compared to its average volume of 489,218. Virtus Convertible & Income Fund II has a 12 month low of $2.70 and a 12 month high of $3.32. The firm’s 50 day simple moving average is $3.12 and its two-hundred day simple moving average is $3.00.

Virtus Convertible & Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a dividend yield of 43.90%. The ex-dividend date is Thursday, March 13th.

Virtus Convertible & Income Fund II Company 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.