Virtus Convertible & Income Fund II (NYSE:NCZ) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC cut its stake in shares of Virtus Convertible & Income Fund II (NYSE:NCZ) by 25.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,190 shares of the investment management company’s stock after selling 119,955 shares during the quarter. Cornerstone Advisors LLC’s holdings in Virtus Convertible & Income Fund II were worth $1,008,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Virtus Convertible & Income Fund II by 16.6% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 24,450 shares of the investment management company’s stock valued at $73,000 after buying an additional 3,476 shares during the last quarter. Integrated Capital Management Inc. grew its holdings in shares of Virtus Convertible & Income Fund II by 6.6% during the first quarter. Integrated Capital Management Inc. now owns 64,684 shares of the investment management company’s stock valued at $193,000 after buying an additional 3,991 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Virtus Convertible & Income Fund II by 7.0% during the first quarter. Private Advisor Group LLC now owns 125,983 shares of the investment management company’s stock valued at $377,000 after buying an additional 8,291 shares during the last quarter. Sykon Capital LLC purchased a new stake in shares of Virtus Convertible & Income Fund II during the second quarter valued at $29,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in shares of Virtus Convertible & Income Fund II during the second quarter valued at $32,000.

Virtus Convertible & Income Fund II Price Performance

Shares of NCZ opened at $3.03 on Tuesday. Virtus Convertible & Income Fund II has a 1-year low of $2.50 and a 1-year high of $3.06. The company’s fifty day moving average price is $2.96 and its 200-day moving average price is $2.91.

Virtus Convertible & Income Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be issued a $0.03 dividend. This represents a $0.36 annualized dividend and a yield of 11.88%. The ex-dividend date is Tuesday, November 12th.

Virtus Convertible & Income Fund II Company Profile

Virtus Convertible & Income Fund II 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.