Virtus Convertible & Income Fund to Issue Monthly Dividend of $0.14 (NYSE:NCV)

Virtus Convertible & Income Fund (NYSE:NCV) announced a monthly dividend on Wednesday, September 2nd. Investors of record on Monday, September 14th will be paid a dividend of 0.136 per share by the investment management company on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend is Monday, September 14th.

Virtus Convertible & Income Fund Stock Performance

Shares of NYSE:NCV opened at $16.46 on Thursday. The firm has a fifty day moving average price of $16.95 and a 200 day moving average price of $16.59. Virtus Convertible & Income Fund has a fifty-two week low of $14.46 and a fifty-two week high of $17.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. raised its position in Virtus Convertible & Income Fund by 373.3% in the 1st quarter. Saba Capital Management L.P. now owns 723,578 shares of the investment management company’s stock worth $10,767,000 after purchasing an additional 570,704 shares during the period. Advisors Asset Management Inc. boosted its position in Virtus Convertible & Income Fund by 6.3% during the 4th quarter. Advisors Asset Management Inc. now owns 699,109 shares of the investment management company’s stock valued at $10,592,000 after acquiring an additional 41,631 shares in the last quarter. LPL Financial LLC grew its position in shares of Virtus Convertible & Income Fund by 11.1% in the 4th quarter. LPL Financial LLC now owns 369,672 shares of the investment management company’s stock worth $5,601,000 after buying an additional 37,012 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Virtus Convertible & Income Fund by 70.3% in the fourth quarter. Guggenheim Capital LLC now owns 337,948 shares of the investment management company’s stock valued at $5,120,000 after acquiring an additional 139,536 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Virtus Convertible & Income Fund by 1.0% in 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 during 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.