Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Update

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 79,231 shares, a growth of 73.6% from the May 14th total of 45,628 shares. Based on an average daily trading volume, of 88,470 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Several hedge funds have recently made changes to their positions in NCV. Fifth Third Bancorp bought a new position in Virtus Convertible & Income Fund in the first quarter valued at $46,000. Global Retirement Partners LLC grew its position in shares of Virtus Convertible & Income Fund by 372.7% in the 4th quarter. Global Retirement Partners LLC now owns 8,404 shares of the investment management company’s stock valued at $127,000 after acquiring an additional 6,626 shares during the period. Jane Street Group LLC acquired a new position in shares of Virtus Convertible & Income Fund during the 2nd quarter worth about $155,000. Alteri Wealth LLC increased its stake in shares of Virtus Convertible & Income Fund by 9.1% during the 4th quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock worth $172,000 after purchasing an additional 946 shares during the last quarter. Finally, Closed End Fund Advisors Inc. bought a new stake in shares of Virtus Convertible & Income Fund in the 4th quarter valued at about $179,000.

Virtus Convertible & Income Fund Trading Up 0.0%

NCV traded up $0.01 during mid-day trading on Wednesday, hitting $17.36. The stock had a trading volume of 22,186 shares, compared to its average volume of 99,729. The stock’s fifty day simple moving average is $16.84 and its 200-day simple moving average is $16.05. Virtus Convertible & Income Fund has a 1-year low of $13.45 and a 1-year high of $17.60.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be paid a dividend of $0.136 per share. This represents a c) dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend is Thursday, August 13th.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.