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

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a significant increase in short interest during the month of 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 trading volume, of 564,700 shares, the short-interest ratio is currently 0.1 days.

Virtus Convertible & Income Fund Stock Up 0.7 %

Shares of Virtus Convertible & Income Fund stock traded up $0.03 during trading hours on Friday, reaching $3.56. The company’s stock had a trading volume of 1,414,827 shares, compared to its average volume of 627,257. The stock’s fifty day simple moving average is $3.56 and its two-hundred day simple moving average is $3.47. Virtus Convertible & Income Fund has a one year low of $3.02 and a one year high of $3.73.

Virtus Convertible & Income Fund Dividend Announcement

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

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in shares of Virtus Convertible & Income Fund by 250.0% in the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after purchasing an additional 6,030 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Virtus Convertible & Income Fund during the third quarter worth $35,000. Jane Street Group LLC bought a new stake in Virtus Convertible & Income Fund during the third quarter worth $36,000. PVG Asset Management Corp purchased a new stake in Virtus Convertible & Income Fund in the 3rd quarter valued at $45,000. Finally, Fortitude Family Office LLC lifted its stake in Virtus Convertible & Income Fund by 33.9% during the 3rd quarter. Fortitude Family Office LLC now owns 13,387 shares of the investment management company’s stock valued at $47,000 after acquiring an additional 3,387 shares in the last quarter.

Virtus Convertible & Income Fund Company Profile

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.