Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Declines By 83.4%

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 25,300 shares, a drop of 83.4% from the November 30th total of 152,200 shares. Based on an average trading volume of 568,700 shares, the short-interest ratio is presently 0.0 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in Virtus Convertible & Income Fund by 250.0% during the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after buying an additional 6,030 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund during the 2nd quarter valued at about $29,000. Sequoia Financial Advisors LLC acquired a new position in Virtus Convertible & Income Fund during the third quarter valued at approximately $35,000. Jane Street Group LLC bought a new stake in shares of Virtus Convertible & Income Fund during the 3rd quarter worth $36,000. Finally, PVG Asset Management Corp acquired a new position in Virtus Convertible & Income Fund in the 3rd quarter valued at $45,000.

Virtus Convertible & Income Fund Price Performance

NCV traded up $0.02 during trading on Thursday, reaching $3.53. 315,372 shares of the stock traded hands, compared to its average volume of 519,813. The stock’s 50-day simple moving average is $3.55 and its two-hundred day simple moving average is $3.45. Virtus Convertible & Income Fund has a fifty-two week low of $3.02 and a fifty-two week high of $3.73.

Virtus Convertible & Income Fund 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 $0.136 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.63 annualized dividend and a dividend yield of 46.23%.

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.