Short Interest in Virtus Equity & Convertible Income Fund (NYSE:NIE) Drops By 81.2%

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant decrease in short interest in April. As of April 15th, there was short interest totaling 5,893 shares, a decrease of 81.2% from the March 31st total of 31,338 shares. Based on an average trading volume of 75,152 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Several large investors have recently bought and sold shares of the stock. PMG Family Office LLC boosted its stake in Virtus Equity & Convertible Income Fund by 7.5% in the first quarter. PMG Family Office LLC now owns 31,747 shares of the company’s stock valued at $742,000 after acquiring an additional 2,223 shares in the last quarter. OxenFree Capital LLC boosted its stake in Virtus Equity & Convertible Income Fund by 15.1% in the first quarter. OxenFree Capital LLC now owns 65,224 shares of the company’s stock valued at $1,644,000 after acquiring an additional 8,581 shares in the last quarter. World Investment Advisors boosted its stake in Virtus Equity & Convertible Income Fund by 8.8% in the fourth quarter. World Investment Advisors now owns 105,586 shares of the company’s stock valued at $2,631,000 after acquiring an additional 8,496 shares in the last quarter. Invesco Ltd. boosted its stake in Virtus Equity & Convertible Income Fund by 5.0% in the fourth quarter. Invesco Ltd. now owns 112,000 shares of the company’s stock valued at $2,791,000 after acquiring an additional 5,356 shares in the last quarter. Finally, Saba Capital Management L.P. acquired a new stake in shares of Virtus Equity & Convertible Income Fund during the fourth quarter worth about $7,431,000.

Virtus Equity & Convertible Income Fund Stock Performance

NYSE NIE traded up $0.37 during trading hours on Friday, hitting $25.89. The company had a trading volume of 97,711 shares, compared to its average volume of 62,355. Virtus Equity & Convertible Income Fund has a 1-year low of $21.40 and a 1-year high of $26.00. The business has a 50 day moving average of $24.63 and a 200-day moving average of $25.10.

Virtus Equity & Convertible Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.7%. The ex-dividend date was Monday, March 16th.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund (NYSE:NIE) is a diversified, closed-end management investment company designed to provide shareholders with a combination of current income and capital appreciation. The fund seeks to achieve its objectives by investing predominantly in convertible securities of U.S. and non-U.S. issuers alongside selected common stocks. Leveraging the hybrid characteristics of convertibles, the fund aims to capture income potential while maintaining exposure to equity market upside.

The fund’s investment strategy centers on a flexible allocation between fixed-income and equity components, with portfolio managers conducting rigorous credit and equity research to identify issuers offering attractive risk-reward profiles.