Virtus Convertible & Income Fund II (NYSE:NCZ) Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC lowered its holdings in shares of Virtus Convertible & Income Fund II (NYSE:NCZ) by 11.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 32,000 shares of the investment management company’s stock after selling 4,060 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Virtus Convertible & Income Fund II were worth $100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in Virtus Convertible & Income Fund II by 8.1% during the third quarter. Advisors Asset Management Inc. now owns 2,931,534 shares of the investment management company’s stock worth $9,117,000 after acquiring an additional 219,726 shares during the last quarter. Congress Park Capital LLC grew its holdings in shares of Virtus Convertible & Income Fund II by 30.5% during the fourth quarter. Congress Park Capital LLC now owns 1,792,142 shares of the investment management company’s stock worth $5,609,000 after buying an additional 418,741 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of Virtus Convertible & Income Fund II by 27.2% during the third quarter. Pathstone Holdings LLC now owns 1,408,269 shares of the investment management company’s stock worth $4,381,000 after buying an additional 300,758 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Virtus Convertible & Income Fund II by 5.3% during the fourth quarter. Park Avenue Securities LLC now owns 453,458 shares of the investment management company’s stock worth $1,419,000 after buying an additional 22,805 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Virtus Convertible & Income Fund II during the third quarter worth about $598,000.

Virtus Convertible & Income Fund II Trading Down 0.6 %

Shares of NYSE NCZ opened at $3.28 on Friday. Virtus Convertible & Income Fund II has a 12 month low of $2.70 and a 12 month high of $3.36. The company has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $3.10.

Virtus Convertible & Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 43.90%.

Virtus Convertible & Income Fund II 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.