Virtus Convertible & Income Fund (NYSE:NCV) Shares Shorted: Short Interest Up 115.5% in October

Virtus Convertible & Income Fund (NYSE:NCV) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 23,037 shares, a growth of 115.5% from the September 30th total of 10,688 shares. Based on an average trading volume of 101,929 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Virtus Convertible & Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers increased its holdings in shares of Virtus Convertible & Income Fund by 2.7% during the 1st quarter. Cetera Investment Advisers now owns 27,019 shares of the investment management company’s stock worth $402,000 after purchasing an additional 708 shares during the period. Trust Co. of Vermont acquired a new position in shares of Virtus Convertible & Income Fund during the second quarter valued at about $29,000. Fifth Third Bancorp bought a new stake in shares of Virtus Convertible & Income Fund in the first quarter valued at about $46,000. CoreCap Advisors LLC lifted its stake in shares of Virtus Convertible & Income Fund by 6.6% in the second quarter. CoreCap Advisors LLC now owns 72,675 shares of the investment management company’s stock valued at $1,278,000 after buying an additional 4,475 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Virtus Convertible & Income Fund in the second quarter valued at about $82,000.

Virtus Convertible & Income Fund Trading Down 2.5%

Shares of Virtus Convertible & Income Fund stock traded down $0.38 during midday trading on Friday, hitting $15.14. The company had a trading volume of 88,316 shares, compared to its average volume of 89,011. The business’s 50 day simple moving average is $15.66 and its two-hundred day simple moving average is $16.29. Virtus Convertible & Income Fund has a 1-year low of $14.46 and a 1-year high of $17.65.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be issued a $0.1360 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.63 dividend on an annualized basis and a yield of 10.8%.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol NCV. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in a diversified portfolio of convertible securities and other income-producing investments.

Its portfolio may include convertible bonds, convertible preferred stocks, corporate bonds and other debt instruments. Convertible securities generally combine income features associated with fixed-income investments with the potential to participate in the equity performance of the issuing company.