Virtus Equity & Convertible Income Fund (NYSE:NIE) Shares Shorted: Short Interest Up 817.4% in September

Virtus Equity & Convertible Income Fund (NYSE:NIE – Get Free Report) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 49,768 shares, a growth of 817.4% from the August 31st total of 5,425 shares. Based on an average daily trading volume, of 79,810 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

A number of hedge funds have recently made changes to their positions in NIE. Blue Bell Private Wealth Management LLC boosted its position in Virtus Equity & Convertible Income Fund by 338.1% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 6,655 shares of the company’s stock valued at $166,000 after buying an additional 5,136 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Virtus Equity & Convertible Income Fund during the first quarter worth approximately $189,000. Graves Light Lenhart Wealth Inc. bought a new position in shares of Virtus Equity & Convertible Income Fund in the second quarter valued at approximately $211,000. Silverlake Wealth Management LLC bought a new position in shares of Virtus Equity & Convertible Income Fund in the second quarter valued at approximately $219,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 9.3% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,362 shares of the company’s stock worth $251,000 after acquiring an additional 794 shares in the last quarter.

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Virtus Equity & Convertible Income Fund Trading Down 1.1%

Shares of NIE stock traded down $0.29 during mid-day trading on Thursday, reaching $25.12. The company’s stock had a trading volume of 83,411 shares, compared to its average volume of 62,270. Virtus Equity & Convertible Income Fund has a 1-year low of $22.78 and a 1-year high of $27.24. The firm’s 50-day moving average is $25.99 and its two-hundred day moving average is $25.78.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $2.32 dividend on an annualized basis and a yield of 9.2%.

About Virtus Equity & Convertible Income Fund

(Get Free Report)

Virtus Equity & Convertible Income Fund is a publicly traded, non-diversified closed-end investment fund listed on the New York Stock Exchange under the symbol NIE. The fund is designed to provide investors with a combination of current income and long-term capital appreciation.

The fund invests primarily in a portfolio of equity securities and convertible securities. Its holdings may include common stocks, preferred stocks, convertible bonds and other securities that provide exposure to companies across a range of industries.

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