Virtus Convertible & Income Fund II (NYSE:NCZ) Sees Significant Decline in Short Interest

Virtus Convertible & Income Fund II (NYSE:NCZ) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 10,489 shares, a drop of 38.8% from the April 30th total of 17,137 shares. Based on an average daily volume of 106,962 shares, the short-interest ratio is currently 0.1 days.

Virtus Convertible & Income Fund II Price Performance

Shares of NCZ stock traded down $0.22 on Wednesday, hitting $15.71. The stock had a trading volume of 12,499 shares, compared to its average volume of 77,057. The stock’s 50 day moving average is $14.80 and its 200-day moving average is $14.40. Virtus Convertible & Income Fund II has a 52-week low of $12.15 and a 52-week high of $15.99.

Institutional Trading of Virtus Convertible & Income Fund II

A number of hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC grew its holdings in Virtus Convertible & Income Fund II by 89.3% during the 3rd quarter. Penserra Capital Management LLC now owns 523,378 shares of the investment management company’s stock worth $7,159,000 after acquiring an additional 246,902 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Virtus Convertible & Income Fund II by 7.4% in the third quarter. Advisors Asset Management Inc. now owns 855,843 shares of the investment management company’s stock valued at $11,708,000 after buying an additional 59,074 shares during the last quarter. Wolverine Asset Management LLC raised its stake in Virtus Convertible & Income Fund II by 171.7% during the fourth quarter. Wolverine Asset Management LLC now owns 52,729 shares of the investment management company’s stock valued at $727,000 after buying an additional 33,324 shares in the last quarter. Readystate Asset Management LP raised its stake in Virtus Convertible & Income Fund II by 77.8% during the first quarter. Readystate Asset Management LP now owns 22,422 shares of the investment management company’s stock valued at $301,000 after buying an additional 9,808 shares in the last quarter. Finally, Saba Capital Management L.P. bought a new position in Virtus Convertible & Income Fund II during the 1st quarter worth approximately $4,717,000.

About Virtus Convertible & Income Fund II

Virtus Convertible & Income Fund II (NYSE: NCZ) is a diversified, closed?end management investment company that seeks to provide shareholders with a combination of current income and capital appreciation. The fund primarily invests in convertible securities issued by U.S. and non-U.S. companies, along with a mix of high?yield and investment-grade fixed-income instruments. By blending exposure to equity-linked convertibles and traditional debt, NCZ aims to deliver enhanced returns across varying market environments.

The portfolio is actively managed by the Virtus Convertible & Income Portfolio Management Team, a group of seasoned investment professionals affiliated with Virtus Investment Partners.