Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Increases By 76.3%

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 44,600 shares, an increase of 76.3% from the December 15th total of 25,300 shares. Based on an average daily volume of 564,700 shares, the days-to-cover ratio is currently 0.1 days.

Virtus Convertible & Income Fund Price Performance

NCV traded up $0.03 during trading on Friday, hitting $3.56. The company’s stock had a trading volume of 1,414,827 shares, compared to its average volume of 627,257. Virtus Convertible & Income Fund has a twelve month low of $3.02 and a twelve month high of $3.73. The stock’s fifty day moving average price is $3.56 and its 200-day moving average price is $3.47.

Virtus Convertible & Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $0.136 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 45.91%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in shares of Virtus Convertible & Income Fund by 250.0% during the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 6,030 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Virtus Convertible & Income Fund in the 3rd quarter valued at about $35,000. Jane Street Group LLC bought a new stake in Virtus Convertible & Income Fund in the 3rd quarter valued at about $36,000. PVG Asset Management Corp acquired a new position in Virtus Convertible & Income Fund during the 3rd quarter worth approximately $45,000. Finally, Fortitude Family Office LLC boosted its holdings in Virtus Convertible & Income Fund by 33.9% in the third quarter. Fortitude Family Office LLC now owns 13,387 shares of the investment management company’s stock worth $47,000 after acquiring an additional 3,387 shares in the last quarter.

About Virtus Convertible & Income Fund

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.