Ionic Capital Management LLC Purchases New Stake in Virtus Convertible & Income Fund II (NYSE:NCZ)

Ionic Capital Management LLC purchased a new position in Virtus Convertible & Income Fund II (NYSE:NCZ) during the third quarter, HoldingsChannel.com reports. The fund purchased 48,133 shares of the investment management company’s stock, valued at approximately $150,000.

A number of other hedge funds have also recently modified their holdings of NCZ. Sykon Capital LLC purchased a new position in Virtus Convertible & Income Fund II during the 2nd quarter valued at about $29,000. Great Valley Advisor Group Inc. bought a new position in shares of Virtus Convertible & Income Fund II during the second quarter valued at approximately $32,000. Sequoia Financial Advisors LLC bought a new position in shares of Virtus Convertible & Income Fund II during the third quarter valued at approximately $40,000. Wealth Effects LLC purchased a new stake in Virtus Convertible & Income Fund II in the third quarter worth $44,000. Finally, Sanctuary Advisors LLC bought a new stake in Virtus Convertible & Income Fund II in the second quarter valued at $59,000.

Virtus Convertible & Income Fund II Stock Down 0.6 %

NYSE:NCZ opened at $3.31 on Tuesday. The company has a 50-day moving average price of $3.14 and a 200-day moving average price of $3.01. Virtus Convertible & Income Fund II has a 12 month low of $2.70 and a 12 month high of $3.35.

Virtus Convertible & Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.44 annualized dividend and a yield of 43.50%.

Virtus Convertible & Income Fund II Profile

Virtus Convertible & Income Fund II 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.