Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Rises By 164.1%

Virtus Convertible & Income Fund (NYSE:NCV) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 17,091 shares, a growth of 164.1% from the August 15th total of 6,471 shares. Based on an average daily volume of 43,072 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Virtus Convertible & Income Fund during the second quarter worth about $82,000. NewEdge Advisors LLC lifted its holdings in shares of Virtus Convertible & Income Fund by 20.0% in the 2nd quarter. NewEdge Advisors LLC now owns 85,040 shares of the investment management company’s stock valued at $1,496,000 after purchasing an additional 14,199 shares during the last quarter. Trust Co. of Vermont purchased a new stake in shares of Virtus Convertible & Income Fund in the 2nd quarter valued at about $29,000. CoreCap Advisors LLC boosted its position in shares of Virtus Convertible & Income Fund by 6.6% in the 2nd quarter. CoreCap Advisors LLC now owns 72,675 shares of the investment management company’s stock valued at $1,278,000 after purchasing an additional 4,475 shares during the period. Finally, Readystate Asset Management LP boosted its position in shares of Virtus Convertible & Income Fund by 39.5% in the 1st quarter. Readystate Asset Management LP now owns 36,738 shares of the investment management company’s stock valued at $547,000 after purchasing an additional 10,403 shares during the period.

Virtus Convertible & Income Fund Stock Down 2.1%

NCV stock traded down $0.34 during midday trading on Monday, reaching $15.82. 102,545 shares of the company were exchanged, compared to its average volume of 89,581. Virtus Convertible & Income Fund has a 1-year low of $14.46 and a 1-year high of $17.65. The stock’s 50-day simple moving average is $16.77 and its 200 day simple moving average is $16.59.

Virtus Convertible & Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be given a $0.136 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Thursday, November 12th.

About Virtus Convertible & Income Fund

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.