Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Update

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 31,100 shares, an increase of 84.0% from the March 15th total of 16,900 shares. Based on an average trading volume of 70,100 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its position in shares of Virtus Equity & Convertible Income Fund by 11.7% during the 4th quarter. Advisors Asset Management Inc. now owns 1,065,736 shares of the company’s stock worth $26,281,000 after buying an additional 111,318 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in Virtus Equity & Convertible Income Fund by 4.1% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 220,976 shares of the company’s stock valued at $5,449,000 after purchasing an additional 8,769 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Virtus Equity & Convertible Income Fund in the fourth quarter valued at about $214,000. Truist Financial Corp grew its stake in Virtus Equity & Convertible Income Fund by 9.9% during the fourth quarter. Truist Financial Corp now owns 21,817 shares of the company’s stock worth $538,000 after buying an additional 1,966 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of Virtus Equity & Convertible Income Fund by 6.1% during the fourth quarter. D.A. Davidson & CO. now owns 25,340 shares of the company’s stock worth $625,000 after buying an additional 1,450 shares in the last quarter.

Virtus Equity & Convertible Income Fund Stock Down 1.9 %

Shares of NIE stock traded down $0.40 during trading hours on Wednesday, reaching $20.69. 39,819 shares of the company’s stock were exchanged, compared to its average volume of 65,582. Virtus Equity & Convertible Income Fund has a fifty-two week low of $18.54 and a fifty-two week high of $25.44. The business has a fifty day moving average price of $22.73 and a 200-day moving average price of $23.61.

Virtus Equity & Convertible Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a $0.50 dividend. The ex-dividend date is Thursday, June 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.67%.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund is a closed ended equity 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 the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.