Virtus Convertible & Income Fund II (NYSE:NCZ) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Virtus Convertible & Income Fund II (NYSE:NCZ) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.19 and traded as high as $15.42. Virtus Convertible & Income Fund II shares last traded at $15.3940, with a volume of 78,068 shares.

Virtus Convertible & Income Fund II Stock Up 0.8%

The stock’s fifty day moving average price is $14.34 and its two-hundred day moving average price is $14.19.

Virtus Convertible & Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 11th will be paid a $0.12 dividend. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend is Monday, May 11th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NCZ. Penserra Capital Management LLC increased its stake in shares of Virtus Convertible & Income Fund II by 89.3% in the third quarter. Penserra Capital Management LLC now owns 523,378 shares of the investment management company’s stock worth $7,159,000 after buying an additional 246,902 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Virtus Convertible & Income Fund II by 22.9% in the fourth quarter. Advisors Asset Management Inc. now owns 1,052,148 shares of the investment management company’s stock worth $14,499,000 after buying an additional 196,305 shares during the period. Guggenheim Capital LLC increased its stake in shares of Virtus Convertible & Income Fund II by 85.5% in the fourth quarter. Guggenheim Capital LLC now owns 224,609 shares of the investment management company’s stock worth $3,095,000 after buying an additional 103,556 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Virtus Convertible & Income Fund II in the third quarter worth $1,261,000. Finally, Bank of America Corp DE increased its stake in shares of Virtus Convertible & Income Fund II by 94.2% in the third quarter. Bank of America Corp DE now owns 125,244 shares of the investment management company’s stock worth $1,713,000 after buying an additional 60,736 shares during the period.

About Virtus Convertible & Income Fund II

Virtus Convertible & Income Fund II (NYSE: NCZ) is a diversified, closed?end management investment company that seeks to provide shareholders with a combination of current income and capital appreciation. The fund primarily invests in convertible securities issued by U.S. and non-U.S. companies, along with a mix of high?yield and investment-grade fixed-income instruments. By blending exposure to equity-linked convertibles and traditional debt, NCZ aims to deliver enhanced returns across varying market environments.

The portfolio is actively managed by the Virtus Convertible & Income Portfolio Management Team, a group of seasoned investment professionals affiliated with Virtus Investment Partners.