Short Interest in Virtus Convertible & Income Fund II (NYSE:NCZ) Drops By 66.7%

Virtus Convertible & Income Fund II (NYSE:NCZ) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 144,400 shares, a drop of 66.7% from the January 15th total of 433,200 shares. Based on an average trading volume of 84,500 shares, the days-to-cover ratio is presently 1.7 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund II

A number of institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC bought a new position in shares of Virtus Convertible & Income Fund II in the third quarter worth approximately $40,000. Wealth Effects LLC purchased a new position in shares of Virtus Convertible & Income Fund II during the 3rd quarter valued at $44,000. Sanctuary Advisors LLC bought a new position in Virtus Convertible & Income Fund II in the 2nd quarter worth $59,000. Illumine Investment Management LLC purchased a new stake in Virtus Convertible & Income Fund II in the 4th quarter worth $59,000. Finally, Virtu Financial LLC raised its holdings in Virtus Convertible & Income Fund II by 44.2% during the third quarter. Virtu Financial LLC now owns 20,137 shares of the investment management company’s stock valued at $63,000 after acquiring an additional 6,176 shares during the period.

Virtus Convertible & Income Fund II Stock Down 1.0 %

NCZ stock traded down $0.13 during trading on Wednesday, reaching $12.62. The stock had a trading volume of 145,525 shares, compared to its average volume of 96,176. The stock’s 50 day moving average is $3.61 and its two-hundred day moving average is $3.26. Virtus Convertible & Income Fund II has a 52 week low of $10.80 and a 52 week high of $13.44.

Virtus Convertible & Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.41%. The ex-dividend date is Thursday, March 13th.

About Virtus Convertible & Income Fund II

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.