Virtus Equity & Convertible Income Fund (NYSE:NIE) Sees Significant Growth in Short Interest

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 49,768 shares, an increase of 817.4% from the August 31st total of 5,425 shares. Based on an average daily trading volume, of 79,810 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NIE. Readystate Asset Management LP bought a new position in Virtus Equity & Convertible Income Fund during the second quarter worth about $473,000. Bank of America Corp DE bought a new stake in shares of Virtus Equity & Convertible Income Fund in the 2nd quarter valued at approximately $3,272,000. Sanctuary Advisors LLC bought a new stake in shares of Virtus Equity & Convertible Income Fund in the 2nd quarter valued at approximately $318,000. Evolve Private Wealth LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 2nd quarter worth approximately $2,011,000. Finally, Allworth Financial LP acquired a new position in Virtus Equity & Convertible Income Fund during the second quarter worth $756,000.

Virtus Equity & Convertible Income Fund Stock Performance

NYSE NIE traded up $0.05 on Friday, reaching $25.14. The stock had a trading volume of 60,180 shares, compared to its average volume of 62,235. The business has a 50 day moving average price of $25.99 and a 200 day moving average price of $25.78. Virtus Equity & Convertible Income Fund has a 1 year low of $22.78 and a 1 year high of $27.24.

Virtus Equity & Convertible Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $2.32 dividend on an annualized basis and a yield of 9.2%.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund is a publicly traded, non-diversified closed-end investment fund listed on the New York Stock Exchange under the symbol NIE. The fund is designed to provide investors with a combination of current income and long-term capital appreciation.

The fund invests primarily in a portfolio of equity securities and convertible securities. Its holdings may include common stocks, preferred stocks, convertible bonds and other securities that provide exposure to companies across a range of industries.