Short Interest in Virtus Equity & Convertible Income Fund (NYSE:NIE) Rises By 241.2%

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 66,200 shares, an increase of 241.2% from the March 31st total of 19,400 shares. Based on an average daily trading volume, of 70,700 shares, the short-interest ratio is presently 0.9 days.

Virtus Equity & Convertible Income Fund Trading Down 0.8 %

Virtus Equity & Convertible Income Fund stock opened at $21.66 on Friday. Virtus Equity & Convertible Income Fund has a 12-month low of $18.61 and a 12-month high of $22.80. The firm’s fifty day moving average is $22.03 and its 200 day moving average is $21.16.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 11th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.00 dividend on an annualized basis and a yield of 9.23%.

Institutional Trading of Virtus Equity & Convertible Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its stake in Virtus Equity & Convertible Income Fund by 29.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 578,389 shares of the company’s stock valued at $11,504,000 after purchasing an additional 132,872 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Virtus Equity & Convertible Income Fund by 2.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 377,074 shares of the company’s stock worth $8,443,000 after acquiring an additional 10,786 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Virtus Equity & Convertible Income Fund by 6.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 345,824 shares of the company’s stock worth $7,231,000 after acquiring an additional 19,491 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Virtus Equity & Convertible Income Fund by 1,868.3% in the 4th quarter. International Assets Investment Management LLC now owns 259,702 shares of the company’s stock worth $5,430,000 after acquiring an additional 246,508 shares in the last quarter. Finally, Global Assets Advisory LLC grew its stake in shares of Virtus Equity & Convertible Income Fund by 2,140.0% in the 1st quarter. Global Assets Advisory LLC now owns 246,400 shares of the company’s stock worth $5,517,000 after acquiring an additional 235,400 shares in the last quarter.

About Virtus Equity & Convertible Income Fund

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.