Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Up 460.8% in February

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 44,300 shares, an increase of 460.8% from the February 13th total of 7,900 shares. Based on an average daily volume of 136,700 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

A number of large investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its holdings in shares of Virtus Convertible & Income Fund by 61.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 158,200 shares of the investment management company’s stock worth $554,000 after purchasing an additional 60,000 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Virtus Convertible & Income Fund by 2.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,619,727 shares of the investment management company’s stock worth $9,169,000 after acquiring an additional 60,559 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Virtus Convertible & Income Fund during the third quarter valued at about $8,974,000. Larson Financial Group LLC raised its holdings in shares of Virtus Convertible & Income Fund by 226.1% in the 3rd quarter. Larson Financial Group LLC now owns 15,000 shares of the investment management company’s stock worth $52,000 after purchasing an additional 10,400 shares during the period. Finally, Ionic Capital Management LLC purchased a new stake in Virtus Convertible & Income Fund in the third quarter worth $64,000.

Virtus Convertible & Income Fund Trading Up 1.7 %

Shares of NCV traded up $0.22 during mid-day trading on Friday, reaching $12.96. The company had a trading volume of 22,953 shares, compared to its average volume of 137,491. The company’s 50 day simple moving average is $13.96 and its 200 day simple moving average is $14.02. Virtus Convertible & Income Fund has a 1-year low of $12.06 and a 1-year high of $14.92.

Virtus Convertible & Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a $0.136 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.63 annualized dividend and a dividend yield of 12.60%.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund 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.