Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Down 80.5% in July

Virtus Convertible & Income Fund (NYSE:NCV) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 18,154 shares, a decrease of 80.5% from the July 15th total of 93,145 shares. Based on an average daily volume of 115,346 shares, the days-to-cover ratio is currently 0.2 days.

Virtus Convertible & Income Fund Trading Up 0.3%

Shares of NCV opened at $17.34 on Wednesday. The stock has a 50-day simple moving average of $17.09 and a 200-day simple moving average of $16.52. Virtus Convertible & Income Fund has a 1 year low of $14.27 and a 1 year high of $17.65.

Virtus Convertible & Income Fund Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in 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 acquiring an additional 708 shares in the last quarter. Alteri Wealth LLC boosted its stake in Virtus Convertible & Income Fund by 9.1% in the fourth quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock valued at $172,000 after acquiring an additional 946 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Virtus Convertible & Income Fund during the second quarter worth about $29,000. Raymond James Financial Inc. increased its position in shares of Virtus Convertible & Income Fund by 3.2% during the second quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock worth $1,110,000 after purchasing an additional 2,388 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Virtus Convertible & Income Fund by 1.0% during the third quarter. Bank of America Corp DE now owns 263,876 shares of the investment management company’s stock worth $3,958,000 after purchasing an additional 2,669 shares in the last quarter.

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.