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

Virtus Convertible & Income Fund (NYSE:NCV – Get Free Report) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 79,231 shares, a growth of 73.6% from the May 14th total of 45,628 shares. Based on an average trading volume of 88,470 shares, the short-interest ratio is presently 0.9 days.

Virtus Convertible & Income Fund Stock Performance

Shares of NYSE:NCV traded up $0.03 during trading on Monday, reaching $17.23. The stock had a trading volume of 81,954 shares, compared to its average volume of 100,869. Virtus Convertible & Income Fund has a 52 week low of $13.45 and a 52 week high of $17.60. The business’s 50-day moving average price is $16.76 and its 200 day moving average price is $16.02.

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Virtus Convertible & Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be paid a $0.136 dividend. The ex-dividend date is Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.5%.

Institutional Trading of Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Readystate Asset Management LP increased its holdings in shares of Virtus Convertible & Income Fund by 39.5% in the first quarter. Readystate Asset Management LP now owns 36,738 shares of the investment management company’s stock valued at $547,000 after purchasing an additional 10,403 shares in the last quarter. Saba Capital Management L.P. increased its holdings in shares of Virtus Convertible & Income Fund by 373.3% in the first quarter. Saba Capital Management L.P. now owns 723,578 shares of the investment management company’s stock valued at $10,767,000 after purchasing an additional 570,704 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Virtus Convertible & Income Fund by 21.4% in the first quarter. Private Advisor Group LLC now owns 164,322 shares of the investment management company’s stock valued at $2,445,000 after purchasing an additional 28,915 shares in the last quarter. Wealth Care LLC acquired a new stake in shares of Virtus Convertible & Income Fund in the first quarter valued at approximately $1,016,000. Finally, Alteri Wealth LLC increased its holdings in shares of Virtus Convertible & Income Fund by 9.1% in the fourth quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock valued at $172,000 after purchasing an additional 946 shares in the last quarter.

About Virtus Convertible & Income Fund

(Get Free Report)

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.

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