Virtus Convertible & Income Fund II (NYSE:NCZ) Stock Price Down 0.9% – What’s Next?

Virtus Convertible & Income Fund II (NYSE:NCZ)’s stock price fell 0.9% during mid-day trading on Tuesday. The company traded as low as $13.45 and last traded at $13.5710. 49,402 shares changed hands during trading, a decline of 27% from the average daily volume of 68,097 shares. The stock had previously closed at $13.69.

Virtus Convertible & Income Fund II Trading Down 0.9%

The company’s fifty day moving average price is $14.37 and its 200 day moving average price is $14.88.

Virtus Convertible & Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be paid a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Thursday, November 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund II

A number of hedge funds have recently added to or reduced their stakes in NCZ. Saba Capital Management L.P. bought a new stake in shares of Virtus Convertible & Income Fund II during the 1st quarter valued at $4,717,000. Private Advisor Group LLC grew its holdings in shares of Virtus Convertible & Income Fund II by 9.3% during the 1st quarter. Private Advisor Group LLC now owns 57,977 shares of the investment management company’s stock worth $777,000 after purchasing an additional 4,950 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Virtus Convertible & Income Fund II by 11.2% in the third quarter. Kestra Advisory Services LLC now owns 47,369 shares of the investment management company’s stock worth $668,000 after purchasing an additional 4,762 shares during the period. Choreo LLC increased its position in shares of Virtus Convertible & Income Fund II by 11.6% in the third quarter. Choreo LLC now owns 44,353 shares of the investment management company’s stock worth $625,000 after purchasing an additional 4,615 shares during the period. Finally, Readystate Asset Management LP increased its position in shares of Virtus Convertible & Income Fund II by 77.8% in the first quarter. Readystate Asset Management LP now owns 22,422 shares of the investment management company’s stock worth $301,000 after purchasing an additional 9,808 shares during the period.

Virtus Convertible & Income Fund II Company Profile

Virtus Convertible & Income Fund II (NYSE: NCZ) is a closed-end investment fund that seeks to provide current income and, secondarily, capital appreciation. The fund invests primarily in convertible securities and income-producing corporate debt securities. Its portfolio may include convertible bonds, convertible preferred stocks, and lower-rated or high-yield debt issued by companies in a range of industries. Convertible securities can offer income while providing the potential to participate in the underlying company’s equity appreciation.