Virtus Convertible & Income Fund (NYSE:NCV) Sees Significant Decline in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 55,100 shares, a drop of 64.8% from the October 31st total of 156,400 shares. Based on an average daily trading volume, of 491,300 shares, the short-interest ratio is currently 0.1 days.

Virtus Convertible & Income Fund Stock Down 0.7 %

Shares of Virtus Convertible & Income Fund stock traded down $0.03 on Wednesday, hitting $3.66. The company had a trading volume of 494,419 shares, compared to its average volume of 518,429. The stock has a 50-day moving average of $3.50 and a 200-day moving average of $3.39. Virtus Convertible & Income Fund has a twelve month low of $3.02 and a twelve month high of $3.70.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a $0.136 dividend. This represents a $1.63 annualized dividend and a dividend yield of 44.65%. The ex-dividend date is Thursday, March 13th.

Institutional Trading of Virtus Convertible & Income Fund

A number of institutional investors have recently modified their holdings of NCV. MCF Advisors LLC acquired a new stake in Virtus Convertible & Income Fund in the 2nd quarter valued at approximately $29,000. International Assets Investment Management LLC raised its holdings in shares of Virtus Convertible & Income Fund by 250.0% in the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 6,030 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Virtus Convertible & Income Fund in the third quarter worth $35,000. Jane Street Group LLC acquired a new position in Virtus Convertible & Income Fund during the third quarter worth $36,000. Finally, PVG Asset Management Corp bought a new position in Virtus Convertible & Income Fund in the third quarter valued at $45,000.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund 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.