Virtus Equity & Convertible Income Fund (NYSE:NIE) Trading Down 0.5% – Should You Sell?

Virtus Equity & Convertible Income Fund (NYSE:NIE) fell 0.5% during trading on Friday . The company traded as low as $25.19 and last traded at $25.33. 36,518 shares were traded during trading, a decline of 41% from the average session volume of 62,273 shares. The stock had previously closed at $25.47.

Virtus Equity & Convertible Income Fund Stock Down 0.5%

The business’s 50 day moving average is $25.25 and its 200-day moving average is $24.09.

Virtus Equity & Convertible Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date was Friday, September 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its holdings in Virtus Equity & Convertible Income Fund by 9.8% in the 1st quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock worth $153,000 after acquiring an additional 617 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Virtus Equity & Convertible Income Fund by 2.5% in the 2nd quarter. D.A. Davidson & CO. now owns 25,579 shares of the company’s stock worth $611,000 after buying an additional 635 shares during the period. Cornerstone Wealth Management LLC increased its stake in Virtus Equity & Convertible Income Fund by 3.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 25,526 shares of the company’s stock worth $641,000 after buying an additional 908 shares in the last quarter. Stolper Co raised its holdings in Virtus Equity & Convertible Income Fund by 3.8% during the second quarter. Stolper Co now owns 31,905 shares of the company’s stock valued at $763,000 after acquiring an additional 1,174 shares during the period. Finally, Eastern Bank purchased a new position in shares of Virtus Equity & Convertible Income Fund in the first quarter valued at about $29,000.

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.