Virtus Convertible & Income Fund (NYSE:NCV) Sees Large Increase in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 44,300 shares, a growth of 460.8% from the February 13th total of 7,900 shares. Based on an average trading volume of 136,700 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Virtus Convertible & Income Fund

Several large investors have recently modified their holdings of NCV. Thrivent Financial for Lutherans lifted its holdings in Virtus Convertible & Income Fund by 61.1% in the third quarter. Thrivent Financial for Lutherans now owns 158,200 shares of the investment management company’s stock worth $554,000 after buying an additional 60,000 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Virtus Convertible & Income Fund by 2.4% during the third quarter. Advisors Asset Management Inc. now owns 2,619,727 shares of the investment management company’s stock valued at $9,169,000 after purchasing an additional 60,559 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Virtus Convertible & Income Fund in the third quarter worth $8,974,000. Larson Financial Group LLC raised its holdings in Virtus Convertible & Income Fund by 226.1% in the third quarter. Larson Financial Group LLC now owns 15,000 shares of the investment management company’s stock worth $52,000 after purchasing an additional 10,400 shares in the last quarter. Finally, Ionic Capital Management LLC purchased a new position in Virtus Convertible & Income Fund during the third quarter valued at $64,000.

Virtus Convertible & Income Fund Stock Up 1.7 %

NYSE:NCV traded up $0.22 during trading hours on Friday, hitting $12.96. The stock had a trading volume of 22,953 shares, compared to its average volume of 137,491. The company has a 50 day simple moving average of $13.96 and a two-hundred day simple moving average of $14.02. Virtus Convertible & Income Fund has a one year low of $12.06 and a one year high of $14.92.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be issued a dividend of $0.136 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.63 dividend on an annualized basis and a yield of 12.60%.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.