Cornerstone Advisors LLC Sells 263,560 Shares of Virtus Convertible & Income Fund II (NYSE:NCZ)

Cornerstone Advisors LLC lowered its stake in Virtus Convertible & Income Fund II (NYSE:NCZ) by 36.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 465,145 shares of the investment management company’s stock after selling 263,560 shares during the period. Cornerstone Advisors LLC’s holdings in Virtus Convertible & Income Fund II were worth $1,391,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. CTC Alternative Strategies Ltd. boosted its stake in Virtus Convertible & Income Fund II by 108.6% during the 4th quarter. CTC Alternative Strategies Ltd. now owns 37,764 shares of the investment management company’s stock worth $113,000 after acquiring an additional 19,664 shares during the last quarter. Congress Park Capital LLC boosted its position in shares of Virtus Convertible & Income Fund II by 20.3% during the fourth quarter. Congress Park Capital LLC now owns 927,798 shares of the investment management company’s stock worth $2,765,000 after purchasing an additional 156,366 shares in the last quarter. Robinson Capital Management LLC acquired a new position in shares of Virtus Convertible & Income Fund II in the 4th quarter valued at $420,000. Private Advisor Group LLC increased its position in shares of Virtus Convertible & Income Fund II by 7.0% in the 1st quarter. Private Advisor Group LLC now owns 125,983 shares of the investment management company’s stock valued at $377,000 after buying an additional 8,291 shares in the last quarter. Finally, Spire Wealth Management raised its stake in Virtus Convertible & Income Fund II by 4.1% during the 4th quarter. Spire Wealth Management now owns 89,507 shares of the investment management company’s stock worth $254,000 after buying an additional 3,526 shares during the period.

Virtus Convertible & Income Fund II Stock Performance

NCZ stock traded down $0.06 during midday trading on Friday, hitting $2.88. 862,525 shares of the company’s stock were exchanged, compared to its average volume of 466,339. Virtus Convertible & Income Fund II has a one year low of $2.50 and a one year high of $3.15. The stock’s fifty day moving average price is $2.90 and its 200-day moving average price is $2.89.

Virtus Convertible & Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a dividend yield of 12.50%. The ex-dividend date is Monday, August 12th.

About Virtus Convertible & Income Fund II

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.