Virtus Equity & Convertible Income Fund (NYSE:NIE) Sees Significant Increase in Short Interest

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 66,200 shares, an increase of 241.2% from the March 31st total of 19,400 shares. Based on an average daily volume of 70,700 shares, the short-interest ratio is presently 0.9 days.

Virtus Equity & Convertible Income Fund Trading Up 1.2 %

Shares of NYSE:NIE opened at $21.91 on Friday. Virtus Equity & Convertible Income Fund has a 1 year low of $18.61 and a 1 year high of $22.80. The business’s 50 day moving average price is $22.01 and its 200-day moving average price is $21.18.

Virtus Equity & Convertible Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 11th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.00 dividend on an annualized basis and a yield of 9.13%.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NIE. Blue Bell Private Wealth Management LLC purchased a new stake in Virtus Equity & Convertible Income Fund in the first quarter valued at $34,000. ICA Group Wealth Management LLC purchased a new stake in Virtus Equity & Convertible Income Fund in the fourth quarter valued at $31,000. Silverlake Wealth Management LLC purchased a new stake in shares of Virtus Equity & Convertible Income Fund in the 1st quarter valued at $209,000. Advisor Resource Council purchased a new stake in shares of Virtus Equity & Convertible Income Fund in the 4th quarter valued at $208,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Virtus Equity & Convertible Income Fund in the 4th quarter valued at $241,000.

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.