Virtus Equity & Convertible Income Fund (NYSE:NIE) Sees Significant Decline in Short Interest

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 19,700 shares, a decrease of 37.7% from the November 15th total of 31,600 shares. Based on an average trading volume of 61,200 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several institutional investors have recently made changes to their positions in NIE. Stolper Co grew its position in Virtus Equity & Convertible Income Fund by 1.4% in the third quarter. Stolper Co now owns 30,889 shares of the company’s stock valued at $711,000 after acquiring an additional 437 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Virtus Equity & Convertible Income Fund by 7.4% in the 2nd quarter. International Assets Investment Management LLC now owns 13,345 shares of the company’s stock worth $310,000 after purchasing an additional 925 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Virtus Equity & Convertible Income Fund by 0.5% in the 3rd quarter. Raymond James & Associates now owns 224,251 shares of the company’s stock worth $5,160,000 after purchasing an additional 1,071 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Virtus Equity & Convertible Income Fund by 5.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 22,533 shares of the company’s stock worth $518,000 after purchasing an additional 1,132 shares in the last quarter. Finally, Luken Investment Analytics LLC bought a new position in Virtus Equity & Convertible Income Fund during the 2nd quarter valued at about $27,000.

Virtus Equity & Convertible Income Fund Stock Performance

Shares of NIE opened at $24.48 on Friday. The stock’s 50-day moving average price is $23.85 and its 200 day moving average price is $23.11. Virtus Equity & Convertible Income Fund has a 12-month low of $20.39 and a 12-month high of $25.44.

Virtus Equity & Convertible Income Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date of this dividend is Thursday, December 12th.

Virtus Equity & Convertible Income Fund Company Profile

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.