Virtus Equity & Convertible Income Fund (NYSE:NIE) Sees Large Growth in Short Interest

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 5,800 shares, an increase of 18.4% from the August 31st total of 4,900 shares. Based on an average daily trading volume, of 68,800 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several large investors have recently added to or reduced their stakes in the stock. Luken Investment Analytics LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 2nd quarter valued at $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 4th quarter valued at $31,000. Silverlake Wealth Management LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 1st quarter valued at $209,000. Creekmur Asset Management LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 4th quarter valued at $241,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Virtus Equity & Convertible Income Fund by 451.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,828 shares of the company’s stock valued at $275,000 after purchasing an additional 9,682 shares during the last quarter.

Virtus Equity & Convertible Income Fund Stock Up 0.1 %

Shares of NIE traded up $0.03 during trading hours on Monday, hitting $23.02. 65,224 shares of the stock were exchanged, compared to its average volume of 68,259. Virtus Equity & Convertible Income Fund has a 12-month low of $18.61 and a 12-month high of $23.88. The stock’s 50-day moving average price is $22.43 and its two-hundred day moving average price is $22.48.

Virtus Equity & Convertible Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 8.69%. The ex-dividend date of this dividend was Friday, September 13th.

Virtus Equity & Convertible Income Fund Company Profile

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.