Virtus Equity & Convertible Income Fund (NYSE:NIE) to Issue Dividend Increase – $0.58 Per Share

Virtus Equity & Convertible Income Fund (NYSE:NIE) announced a quarterly dividend on Wednesday, June 3rd. Shareholders of record on Monday, June 15th will be paid a dividend of 0.58 per share on Monday, June 29th. This represents a c) dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend is Monday, June 15th. This is a 16.0% increase from Virtus Equity & Convertible Income Fund’s previous quarterly dividend of $0.50.

Virtus Equity & Convertible Income Fund Stock Performance

NIE opened at $27.03 on Thursday. Virtus Equity & Convertible Income Fund has a 1-year low of $22.74 and a 1-year high of $27.19. The firm has a 50-day moving average price of $25.48 and a two-hundred day moving average price of $25.28.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NIE. OxenFree Capital LLC boosted its holdings in Virtus Equity & Convertible Income Fund by 1.0% during the fourth quarter. OxenFree Capital LLC now owns 56,643 shares of the company’s stock worth $1,412,000 after buying an additional 556 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Virtus Equity & Convertible Income Fund by 9.8% in the 1st quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock valued at $153,000 after acquiring an additional 617 shares during the last quarter. Stolper Co raised its position in shares of Virtus Equity & Convertible Income Fund by 2.3% in the 4th quarter. Stolper Co now owns 32,642 shares of the company’s stock valued at $813,000 after acquiring an additional 719 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Virtus Equity & Convertible Income Fund by 3.5% in the 4th quarter. Cornerstone Wealth Management LLC now owns 26,412 shares of the company’s stock valued at $658,000 after acquiring an additional 886 shares during the period. Finally, PMG Family Office LLC boosted its stake in Virtus Equity & Convertible Income Fund by 7.5% during the 1st quarter. PMG Family Office LLC now owns 31,747 shares of the company’s stock worth $742,000 after acquiring an additional 2,223 shares during the last quarter.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund (NYSE:NIE) is a diversified, closed-end management investment company designed to provide shareholders with a combination of current income and capital appreciation. The fund seeks to achieve its objectives by investing predominantly in convertible securities of U.S. and non-U.S. issuers alongside selected common stocks. Leveraging the hybrid characteristics of convertibles, the fund aims to capture income potential while maintaining exposure to equity market upside.

The fund’s investment strategy centers on a flexible allocation between fixed-income and equity components, with portfolio managers conducting rigorous credit and equity research to identify issuers offering attractive risk-reward profiles.