Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Down 64.8% in November

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large drop in short interest in 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 trading volume of 491,300 shares, the days-to-cover ratio is presently 0.1 days.

Virtus Convertible & Income Fund Stock Down 0.7 %

NCV traded down $0.03 during mid-day trading on Wednesday, reaching $3.66. The stock had a trading volume of 494,419 shares, compared to its average volume of 518,429. Virtus Convertible & Income Fund has a 52 week low of $3.02 and a 52 week high of $3.70. The firm’s fifty day simple moving average is $3.50 and its two-hundred day simple moving average is $3.39.

Virtus Convertible & Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SVB Wealth LLC bought a new stake in shares of Virtus Convertible & Income Fund during the first quarter worth approximately $74,000. Virtu Financial LLC bought a new stake in shares of Virtus Convertible & Income Fund during the 1st quarter valued at $128,000. Cetera Advisors LLC lifted its stake in shares of Virtus Convertible & Income Fund by 852.9% in the 1st quarter. Cetera Advisors LLC now owns 257,936 shares of the investment management company’s stock valued at $862,000 after purchasing an additional 230,867 shares during the period. Park Avenue Securities LLC boosted its position in shares of Virtus Convertible & Income Fund by 2.6% in the 2nd quarter. Park Avenue Securities LLC now owns 390,645 shares of the investment management company’s stock worth $1,277,000 after purchasing an additional 9,948 shares during the last quarter. Finally, Integrated Capital Management Inc. increased its holdings in Virtus Convertible & Income Fund by 29.9% in the second quarter. Integrated Capital Management Inc. now owns 73,918 shares of the investment management company’s stock valued at $242,000 after purchasing an additional 16,995 shares during the last quarter.

About Virtus Convertible & Income Fund

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.