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

Virtus Convertible & Income Fund II (NYSE:NCZ) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 243,900 shares, a decline of 21.7% from the November 15th total of 311,600 shares. Based on an average daily trading volume, of 414,600 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund II

Several institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its stake in Virtus Convertible & Income Fund II by 8.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,931,534 shares of the investment management company’s stock valued at $9,117,000 after acquiring an additional 219,726 shares in the last quarter. Pathstone Holdings LLC grew its stake in Virtus Convertible & Income Fund II by 27.2% during the 3rd quarter. Pathstone Holdings LLC now owns 1,408,269 shares of the investment management company’s stock valued at $4,381,000 after acquiring an additional 300,758 shares in the last quarter. Congress Park Capital LLC grew its stake in Virtus Convertible & Income Fund II by 58.1% during the 3rd quarter. Congress Park Capital LLC now owns 1,373,401 shares of the investment management company’s stock valued at $4,271,000 after acquiring an additional 504,854 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Virtus Convertible & Income Fund II in the 3rd quarter valued at approximately $598,000. Finally, Shaker Financial Services LLC grew its stake in shares of Virtus Convertible & Income Fund II by 50.1% in the 3rd quarter. Shaker Financial Services LLC now owns 190,638 shares of the investment management company’s stock valued at $593,000 after buying an additional 63,656 shares in the last quarter.

Virtus Convertible & Income Fund II Trading Down 0.3 %

NYSE:NCZ traded down $0.01 on Friday, hitting $3.28. 238,664 shares of the company’s stock traded hands, compared to its average volume of 479,953. Virtus Convertible & Income Fund II has a 1 year low of $2.70 and a 1 year high of $3.36. The firm has a 50-day moving average price of $3.18 and a 200-day moving average price of $3.04.

Virtus Convertible & Income Fund II Dividend Announcement

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

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.