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

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large decline in short interest during the month of 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 days-to-cover ratio is currently 0.3 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Virtus Equity & Convertible Income Fund by 0.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 379,656 shares of the company’s stock valued at $8,823,000 after buying an additional 2,582 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Virtus Equity & Convertible Income Fund by 13.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 32,096 shares of the company’s stock valued at $746,000 after acquiring an additional 3,718 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Virtus Equity & Convertible Income Fund by 5.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 99,360 shares of the company’s stock worth $2,309,000 after purchasing an additional 5,288 shares during the period. International Assets Investment Management LLC lifted its position in shares of Virtus Equity & Convertible Income Fund by 7.4% during the second quarter. International Assets Investment Management LLC now owns 13,345 shares of the company’s stock worth $310,000 after purchasing an additional 925 shares during the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Virtus Equity & Convertible Income Fund during the second quarter worth $689,000.

Virtus Equity & Convertible Income Fund Price Performance

NYSE NIE traded up $0.09 on Friday, reaching $24.48. 52,817 shares of the stock were exchanged, compared to its average volume of 65,610. Virtus Equity & Convertible Income Fund has a one year low of $20.39 and a one year high of $25.44. The company’s 50-day simple moving average is $23.85 and its two-hundred day simple moving average is $23.11.

Virtus Equity & Convertible Income Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.17%.

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.