Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Decreases By 64.4%

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 6,471 shares, a decrease of 64.4% from the July 30th total of 18,154 shares. Based on an average daily volume of 56,550 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC boosted its position in Virtus Convertible & Income Fund by 47.3% during the fourth quarter. Kestra Advisory Services LLC now owns 49,479 shares of the investment management company’s stock worth $750,000 after purchasing an additional 15,899 shares during the period. Readystate Asset Management LP bought a new stake in shares of Virtus Convertible & Income Fund in the fourth quarter valued at approximately $399,000. Cetera Investment Advisers lifted its stake in shares of Virtus Convertible & Income Fund by 19.5% during the 4th quarter. Cetera Investment Advisers now owns 26,311 shares of the investment management company’s stock valued at $399,000 after buying an additional 4,292 shares in the last quarter. Trust Co. of Vermont purchased a new stake in shares of Virtus Convertible & Income Fund during the 2nd quarter valued at approximately $29,000. Finally, CoreCap Advisors LLC lifted its stake in shares of Virtus Convertible & Income Fund by 6.6% during the 2nd quarter. CoreCap Advisors LLC now owns 72,675 shares of the investment management company’s stock valued at $1,278,000 after buying an additional 4,475 shares in the last quarter.

Virtus Convertible & Income Fund Stock Performance

Shares of NCV traded down $0.15 during mid-day trading on Friday, hitting $16.62. The stock had a trading volume of 39,671 shares, compared to its average volume of 90,840. The business has a fifty day moving average price of $17.02 and a 200-day moving average price of $16.59. Virtus Convertible & Income Fund has a 52 week low of $14.46 and a 52 week high of $17.65.

Virtus Convertible & Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be issued a $0.136 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) annualized dividend and a yield of 9.8%.

Virtus Convertible & Income Fund Company Profile

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.