Virtus Equity & Convertible Income Fund (NYSE:NIE – Get Free Report) saw a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 18,029 shares, a drop of 74.6% from the October 15th total of 71,053 shares. Based on an average daily trading volume, of 62,185 shares, the short-interest ratio is presently 0.3 days.
Institutional Trading of Virtus Equity & Convertible Income Fund
A number of institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new position in shares of Virtus Equity & Convertible Income Fund during the third quarter valued at approximately $21,429,000. Fifth Third Bancorp lifted its position in Virtus Equity & Convertible Income Fund by 11.7% during the third quarter. Fifth Third Bancorp now owns 9,039 shares of the company’s stock valued at $226,000 after purchasing an additional 945 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Virtus Equity & Convertible Income Fund by 7.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 138,579 shares of the company’s stock worth $3,464,000 after purchasing an additional 9,748 shares during the last quarter. Calamos Advisors LLC boosted its holdings in Virtus Equity & Convertible Income Fund by 6.7% in the third quarter. Calamos Advisors LLC now owns 54,728 shares of the company’s stock worth $1,368,000 after purchasing an additional 3,420 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its stake in Virtus Equity & Convertible Income Fund by 1.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 41,243 shares of the company’s stock valued at $1,031,000 after buying an additional 778 shares during the last quarter.
Virtus Equity & Convertible Income Fund Trading Up 1.1%
NYSE NIE opened at $23.80 on Thursday. Virtus Equity & Convertible Income Fund has a one year low of $22.78 and a one year high of $27.24. The stock has a 50-day moving average of $24.98 and a 200 day moving average of $25.54.
Virtus Equity & Convertible Income Fund Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, September 14th. This represents a $2.32 annualized dividend and a yield of 9.7%.
About Virtus Equity & Convertible Income Fund
Virtus Equity & Convertible Income Fund is a publicly traded closed-end investment fund listed on the New York Stock Exchange under the symbol NIE. Rather than operating as a traditional company, the fund invests in a portfolio of securities with the objective of seeking total return through a combination of current income and capital appreciation. The fund primarily invests in equity securities and convertible securities. Its portfolio may include common stocks and convertible bonds or preferred securities, giving investors exposure to companies while also providing the potential for income from dividends and interest.
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