Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Update

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 16,900 shares, a decrease of 26.2% from the February 28th total of 22,900 shares. Based on an average daily volume of 62,400 shares, the days-to-cover ratio is presently 0.3 days.

Virtus Equity & Convertible Income Fund Price Performance

Shares of NIE stock opened at $22.14 on Friday. The business’s 50-day moving average price is $23.93 and its 200-day moving average price is $23.82. Virtus Equity & Convertible Income Fund has a 12 month low of $20.75 and a 12 month high of $25.44.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, June 12th. This represents a $2.00 annualized dividend and a yield of 9.04%.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

A number of institutional investors have recently added to or reduced their stakes in NIE. CoreCap Advisors LLC raised its position in shares of Virtus Equity & Convertible Income Fund by 32,400.0% during the fourth quarter. CoreCap Advisors LLC now owns 1,300 shares of the company’s stock worth $32,000 after acquiring an additional 1,296 shares during the last quarter. POM Investment Strategies LLC bought a new position in Virtus Equity & Convertible Income Fund during the 4th quarter worth approximately $42,000. JPMorgan Chase & Co. raised its holdings in Virtus Equity & Convertible Income Fund by 29.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,881 shares of the company’s stock worth $66,000 after purchasing an additional 650 shares during the last quarter. Silverlake Wealth Management LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 4th quarter worth approximately $201,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Virtus Equity & Convertible Income Fund in the 4th quarter valued at $214,000.

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.