Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Declines By 18.2%

Virtus Convertible & Income Fund (NYSE:NCVGet Free Report) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 32,800 shares, a drop of 18.2% from the February 29th total of 40,100 shares. Based on an average daily trading volume, of 412,400 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its stake in Virtus Convertible & Income Fund by 4.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 74,447 shares of the investment management company’s stock valued at $253,000 after acquiring an additional 3,116 shares during the last quarter. UBS Group AG grew its stake in shares of Virtus Convertible & Income Fund by 3.7% during the first quarter. UBS Group AG now owns 86,726 shares of the investment management company’s stock worth $436,000 after purchasing an additional 3,118 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in Virtus Convertible & Income Fund by 32.4% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 16,216 shares of the investment management company’s stock valued at $50,000 after buying an additional 3,968 shares during the period. MGO One Seven LLC lifted its stake in Virtus Convertible & Income Fund by 28.5% in the third quarter. MGO One Seven LLC now owns 20,652 shares of the investment management company’s stock valued at $64,000 after buying an additional 4,585 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Virtus Convertible & Income Fund by 4.7% during the fourth quarter. Royal Bank of Canada now owns 115,102 shares of the investment management company’s stock worth $388,000 after buying an additional 5,131 shares during the last quarter.

Virtus Convertible & Income Fund Stock Performance

NCV stock opened at $3.34 on Friday. The business has a fifty day moving average of $3.27 and a 200-day moving average of $3.20. Virtus Convertible & Income Fund has a twelve month low of $2.84 and a twelve month high of $3.59.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.034 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a yield of 12.6%.

Virtus Convertible & Income Fund Company Profile

(Get Free Report)

Virtus Convertible & Income Fund 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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