Virtus AllianzGI Convertible & Income Fund II (NYSE:NCZ) Short Interest Up 36.2% in May

Virtus AllianzGI Convertible & Income Fund II (NYSE:NCZGet Rating) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 58,300 shares, a growth of 36.2% from the May 15th total of 42,800 shares. Based on an average daily volume of 481,800 shares, the short-interest ratio is currently 0.1 days.

Several hedge funds have recently modified their holdings of NCZ. UMB Bank N A MO purchased a new stake in shares of Virtus AllianzGI Convertible & Income Fund II during the fourth quarter worth about $28,000. B. Riley Wealth Management Inc. acquired a new stake in shares of Virtus AllianzGI Convertible & Income Fund II during the first quarter worth about $52,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Virtus AllianzGI Convertible & Income Fund II during the fourth quarter worth about $58,000. Cetera Advisors LLC acquired a new stake in shares of Virtus AllianzGI Convertible & Income Fund II during the third quarter worth about $61,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of Virtus AllianzGI Convertible & Income Fund II during the first quarter worth about $64,000.

Shares of NCZ stock traded up $0.05 on Friday, reaching $3.03. The company’s stock had a trading volume of 18,268 shares, compared to its average volume of 450,853. The stock’s fifty day simple moving average is $3.63 and its 200-day simple moving average is $4.28. Virtus AllianzGI Convertible & Income Fund II has a 1 year low of $2.98 and a 1 year high of $5.51.

The business also recently announced a monthly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be paid a $0.0375 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.45 annualized dividend and a yield of 14.85%.

About Virtus AllianzGI Convertible & Income Fund II (Get Rating)

AllianzGI Convertible & Income Fund II 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.

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