Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Update

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 44,600 shares, an increase of 76.3% from the December 15th total of 25,300 shares. Based on an average daily trading volume, of 564,700 shares, the days-to-cover ratio is currently 0.1 days.

Virtus Convertible & Income Fund Price Performance

NYSE NCV traded up $0.03 during trading hours on Friday, hitting $3.56. The company had a trading volume of 1,414,827 shares, compared to its average volume of 627,257. Virtus Convertible & Income Fund has a fifty-two week low of $3.02 and a fifty-two week high of $3.73. The business has a fifty day simple moving average of $3.56 and a 200-day simple moving average of $3.47.

Virtus Convertible & Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $0.136 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.63 annualized dividend and a yield of 45.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC raised its holdings in shares of Virtus Convertible & Income Fund by 6.3% during the second quarter. Private Advisor Group LLC now owns 246,556 shares of the investment management company’s stock valued at $806,000 after buying an additional 14,510 shares during the last quarter. Choreo LLC acquired a new position in Virtus Convertible & Income Fund during the 2nd quarter worth $186,000. Cornerstone Advisors LLC boosted its position in Virtus Convertible & Income Fund by 17.3% during the 2nd quarter. Cornerstone Advisors LLC now owns 919,074 shares of the investment management company’s stock worth $3,005,000 after acquiring an additional 135,268 shares during the period. Cetera Investment Advisers grew its stake in shares of Virtus Convertible & Income Fund by 13.1% in the second quarter. Cetera Investment Advisers now owns 322,227 shares of the investment management company’s stock worth $1,054,000 after purchasing an additional 37,271 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Virtus Convertible & Income Fund by 3.3% during the third quarter. Park Avenue Securities LLC now owns 403,425 shares of the investment management company’s stock valued at $1,412,000 after purchasing an additional 12,780 shares during the period.

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.