Virtus Equity & Convertible Income Fund (NYSE:NIE) Stock Short Interest Rises 817.4%

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 49,768 shares, an increase of 817.4% from the August 31st total of 5,425 shares. Based on an average trading volume of 79,810 shares, the short-interest ratio is presently 0.6 days.

Virtus Equity & Convertible Income Fund Price Performance

Shares of Virtus Equity & Convertible Income Fund stock traded up $0.02 on Friday, hitting $25.11. The company’s stock had a trading volume of 71,595 shares, compared to its average volume of 62,321. Virtus Equity & Convertible Income Fund has a 1 year low of $22.78 and a 1 year high of $27.24. The firm has a fifty day moving average price of $25.97 and a 200-day moving average price of $25.78.

Virtus Equity & Convertible Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Monday, September 14th.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Institutional investors have recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC grew its position in shares of Virtus Equity & Convertible Income Fund by 338.1% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 6,655 shares of the company’s stock valued at $166,000 after purchasing an additional 5,136 shares during the period. Graves Light Lenhart Wealth Inc. purchased a new position in Virtus Equity & Convertible Income Fund in the 2nd quarter valued at about $211,000. Fifth Third Bancorp acquired a new stake in Virtus Equity & Convertible Income Fund in the 1st quarter worth about $189,000. Silverlake Wealth Management LLC acquired a new stake in Virtus Equity & Convertible Income Fund in the 2nd quarter worth about $219,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Virtus Equity & Convertible Income Fund by 9.3% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,362 shares of the company’s stock worth $251,000 after buying an additional 794 shares in the last quarter.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a publicly traded, non-diversified closed-end investment fund listed on the New York Stock Exchange under the symbol NIE. The fund is designed to provide investors with a combination of current income and long-term capital appreciation.

The fund invests primarily in a portfolio of equity securities and convertible securities. Its holdings may include common stocks, preferred stocks, convertible bonds and other securities that provide exposure to companies across a range of industries.