Virtus Convertible & Income Fund (NYSE:NCV) Sees Large Growth in Short Interest

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

Virtus Convertible & Income Fund Stock Up 0.6 %

NCV opened at $3.42 on Wednesday. The firm’s fifty day moving average price is $3.56 and its two-hundred day moving average price is $3.47. Virtus Convertible & Income Fund has a 1 year low of $3.02 and a 1 year high of $3.73.

Virtus Convertible & Income Fund Dividend Announcement

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 paid a $0.136 dividend. The ex-dividend date is Thursday, March 13th. This represents a $1.63 annualized dividend and a yield of 47.72%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of NCV. International Assets Investment Management LLC lifted its holdings in Virtus Convertible & Income Fund by 250.0% during the third quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after acquiring an additional 6,030 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Virtus Convertible & Income Fund during the 3rd quarter valued at $35,000. Jane Street Group LLC bought a new stake in shares of Virtus Convertible & Income Fund during the 3rd quarter worth $36,000. PVG Asset Management Corp purchased a new position in shares of Virtus Convertible & Income Fund in the 3rd quarter worth about $45,000. Finally, Fortitude Family Office LLC grew its position in Virtus Convertible & Income Fund by 33.9% during the third quarter. Fortitude Family Office LLC now owns 13,387 shares of the investment management company’s stock valued at $47,000 after buying an additional 3,387 shares during the period.

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.