Virtus Equity & Convertible Income Fund (NYSE:NIE) Sees Large Decrease in Short Interest

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 19,700 shares, a decline of 37.7% from the November 15th total of 31,600 shares. Based on an average daily volume of 61,200 shares, the short-interest ratio is presently 0.3 days.

Virtus Equity & Convertible Income Fund Price Performance

Shares of NYSE:NIE opened at $24.48 on Friday. Virtus Equity & Convertible Income Fund has a 1-year low of $20.39 and a 1-year high of $25.44. The business has a 50-day moving average price of $23.85 and a two-hundred day moving average price of $23.11.

Virtus Equity & Convertible Income Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be paid a $0.50 dividend. The ex-dividend date is Thursday, December 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.17%.

Institutional Trading of Virtus Equity & Convertible Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of NIE. Luken Investment Analytics LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 2nd quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Virtus Equity & Convertible Income Fund by 451.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,828 shares of the company’s stock valued at $275,000 after purchasing an additional 9,682 shares during the period. Global Assets Advisory LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 3rd quarter valued at approximately $275,000. International Assets Investment Management LLC grew its position in shares of Virtus Equity & Convertible Income Fund by 7.4% in the 2nd quarter. International Assets Investment Management LLC now owns 13,345 shares of the company’s stock valued at $310,000 after purchasing an additional 925 shares during the period. Finally, PFG Investments LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 2nd quarter valued at approximately $327,000.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund is a closed ended equity 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 the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.