Virtus Convertible & Income Fund (NYSE:NCV) Sees Large Growth in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 51,913 shares, a growth of 24.4% from the March 15th total of 41,747 shares. Based on an average daily volume of 85,507 shares, the days-to-cover ratio is currently 0.6 days.

Virtus Convertible & Income Fund Stock Down 0.2%

Shares of NCV stock traded down $0.04 during trading hours on Friday, reaching $16.21. The stock had a trading volume of 56,763 shares, compared to its average volume of 111,793. Virtus Convertible & Income Fund has a twelve month low of $12.22 and a twelve month high of $16.70. The firm has a 50-day simple moving average of $15.79 and a 200-day simple moving average of $15.57.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 11th will be given a $0.136 dividend. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a yield of 10.1%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Bell Private Wealth Management LLC lifted its holdings in Virtus Convertible & Income Fund by 649.9% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 6,749 shares of the investment management company’s stock valued at $101,000 after acquiring an additional 5,849 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Virtus Convertible & Income Fund by 372.7% in the 4th quarter. Global Retirement Partners LLC now owns 8,404 shares of the investment management company’s stock worth $127,000 after purchasing an additional 6,626 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Virtus Convertible & Income Fund in the 2nd quarter worth approximately $155,000. Alteri Wealth LLC lifted its stake in Virtus Convertible & Income Fund by 9.1% during the fourth quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock valued at $172,000 after purchasing an additional 946 shares during the last quarter. Finally, Closed End Fund Advisors Inc. bought a new stake in Virtus Convertible & Income Fund during the fourth quarter worth approximately $179,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.