Short Interest in Virtus Equity & Convertible Income Fund (NYSE:NIE) Drops By 37.7%

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 19,700 shares, a decline of 37.7% from the November 15th total of 31,600 shares. Based on an average daily trading volume, of 61,200 shares, the short-interest ratio is currently 0.3 days.

Virtus Equity & Convertible Income Fund Stock Up 0.4 %

Shares of NIE traded up $0.09 during trading hours on Friday, hitting $24.48. 52,817 shares of the stock were exchanged, compared to its average volume of 65,610. The stock’s 50-day moving average price is $23.85 and its two-hundred day moving average price is $23.11. Virtus Equity & Convertible Income Fund has a 12-month low of $20.39 and a 12-month high of $25.44.

Virtus Equity & Convertible Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Thursday, December 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date is Thursday, December 12th.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Virtus Equity & Convertible Income Fund by 2.6% during the third quarter. Advisors Asset Management Inc. now owns 954,418 shares of the company’s stock worth $21,961,000 after purchasing an additional 24,306 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Virtus Equity & Convertible Income Fund by 0.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 382,423 shares of the company’s stock worth $8,800,000 after buying an additional 2,767 shares during the period. International Assets Investment Management LLC lifted its holdings in Virtus Equity & Convertible Income Fund by 2,082.9% during the 3rd quarter. International Assets Investment Management LLC now owns 291,307 shares of the company’s stock worth $6,703,000 after buying an additional 277,962 shares in the last quarter. Raymond James & Associates boosted its position in Virtus Equity & Convertible Income Fund by 0.5% in the 3rd quarter. Raymond James & Associates now owns 224,251 shares of the company’s stock valued at $5,160,000 after buying an additional 1,071 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in shares of Virtus Equity & Convertible Income Fund by 2.4% in the second quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 214,085 shares of the company’s stock worth $4,975,000 after acquiring an additional 5,086 shares in the last quarter.

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.