Virtus Convertible & Income Fund II (NYSE:NCZ) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Virtus Convertible & Income Fund II (NYSE:NCZ) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.08 and traded as high as $3.21. Virtus Convertible & Income Fund II shares last traded at $3.20, with a volume of 453,918 shares changing hands.

Virtus Convertible & Income Fund II Trading Down 0.2 %

The firm’s 50-day moving average price is $3.21 and its 200 day moving average price is $3.08.

Virtus Convertible & Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 44.93%.

Institutional Investors Weigh In On Virtus Convertible & Income Fund II

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Virtus Convertible & Income Fund II during the third quarter valued at approximately $40,000. Wealth Effects LLC bought a new stake in shares of Virtus Convertible & Income Fund II during the 3rd quarter worth $44,000. Sanctuary Advisors LLC purchased a new position in shares of Virtus Convertible & Income Fund II in the 2nd quarter worth about $59,000. Virtu Financial LLC boosted its holdings in shares of Virtus Convertible & Income Fund II by 44.2% in the 3rd quarter. Virtu Financial LLC now owns 20,137 shares of the investment management company’s stock worth $63,000 after buying an additional 6,176 shares during the last quarter. Finally, Greenleaf Trust bought a new position in Virtus Convertible & Income Fund II during the third quarter valued at about $77,000.

Virtus Convertible & Income Fund II Company Profile

Virtus 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.