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

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 246,000 shares, a decrease of 20.2% from the September 15th total of 308,200 shares. Based on an average daily volume of 439,000 shares, the days-to-cover ratio is presently 0.6 days.

Virtus Convertible & Income Fund Stock Performance

Virtus Convertible & Income Fund stock traded down $0.01 on Tuesday, hitting $3.53. 408,732 shares of the stock traded hands, compared to its average volume of 498,538. The business’s fifty day simple moving average is $3.44 and its 200 day simple moving average is $3.32. Virtus Convertible & Income Fund has a 1 year low of $2.84 and a 1 year high of $3.58.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be issued a $0.034 dividend. This represents a $0.41 dividend on an annualized basis and a yield of 11.56%. The ex-dividend date of this dividend is Tuesday, November 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Capital Management Inc. grew its stake in shares of Virtus Convertible & Income Fund by 6.6% in the 1st quarter. Integrated Capital Management Inc. now owns 56,923 shares of the investment management company’s stock worth $190,000 after buying an additional 3,549 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Virtus Convertible & Income Fund by 25.6% during the third quarter. Atomi Financial Group Inc. now owns 22,461 shares of the investment management company’s stock valued at $79,000 after acquiring an additional 4,585 shares in the last quarter. MCF Advisors LLC purchased a new position in shares of Virtus Convertible & Income Fund in the 2nd quarter worth about $29,000. Private Advisor Group LLC grew its position in Virtus Convertible & Income Fund by 4.4% during the 1st quarter. Private Advisor Group LLC now owns 232,046 shares of the investment management company’s stock valued at $775,000 after purchasing an additional 9,828 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in Virtus Convertible & Income Fund by 2.6% during the 2nd quarter. Park Avenue Securities LLC now owns 390,645 shares of the investment management company’s stock valued at $1,277,000 after purchasing an additional 9,948 shares in the last quarter.

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.