Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Declines By 20.2%

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 246,000 shares, a drop of 20.2% from the September 15th total of 308,200 shares. Based on an average daily volume of 439,000 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its position in shares of Virtus Convertible & Income Fund by 3,368.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,163,396 shares of the investment management company’s stock worth $7,226,000 after buying an additional 2,101,026 shares during the last quarter. Congress Park Capital LLC boosted its stake in Virtus Convertible & Income Fund by 46.8% in the third quarter. Congress Park Capital LLC now owns 1,563,329 shares of the investment management company’s stock valued at $5,472,000 after acquiring an additional 498,112 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Virtus Convertible & Income Fund by 852.9% during the first quarter. Cetera Advisors LLC now owns 257,936 shares of the investment management company’s stock worth $862,000 after purchasing an additional 230,867 shares during the last quarter. WNY Asset Management LLC increased its position in shares of Virtus Convertible & Income Fund by 22.2% during the first quarter. WNY Asset Management LLC now owns 748,526 shares of the investment management company’s stock worth $2,500,000 after purchasing an additional 135,793 shares in the last quarter. Finally, Cornerstone Advisors LLC lifted its holdings in shares of Virtus Convertible & Income Fund by 17.3% in the 2nd quarter. Cornerstone Advisors LLC now owns 919,074 shares of the investment management company’s stock valued at $3,005,000 after purchasing an additional 135,268 shares during the last quarter.

Virtus Convertible & Income Fund Trading Up 1.5 %

Virtus Convertible & Income Fund stock traded up $0.05 during mid-day trading on Friday, hitting $3.55. The company’s stock had a trading volume of 340,314 shares, compared to its average volume of 499,814. The stock’s fifty day moving average is $3.44 and its two-hundred day moving average is $3.32. Virtus Convertible & Income Fund has a 1 year low of $2.84 and a 1 year high of $3.58.

Virtus Convertible & Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 12th will be paid a $0.034 dividend. This represents a $0.41 annualized dividend and a dividend yield of 11.49%. The ex-dividend date of this dividend is Tuesday, November 12th.

Virtus Convertible & Income Fund Company Profile

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.