Virtus Equity & Convertible Income Fund (NYSE:NIE) Stock Short Interest Report for October

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 71,053 shares, an increase of 172.9% from the September 30th total of 26,034 shares. Based on an average daily volume of 102,335 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Large investors have recently modified their holdings of the stock. Graves Light Lenhart Wealth Inc. acquired a new stake in shares of Virtus Equity & Convertible Income Fund during the 2nd quarter worth about $211,000. Fifth Third Bancorp purchased a new stake in Virtus Equity & Convertible Income Fund during the first quarter worth approximately $189,000. Silverlake Wealth Management LLC acquired a new position in Virtus Equity & Convertible Income Fund in the second quarter valued at approximately $219,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Virtus Equity & Convertible Income Fund by 9.3% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,362 shares of the company’s stock valued at $251,000 after purchasing an additional 794 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Virtus Equity & Convertible Income Fund in the second quarter valued at approximately $318,000.

Virtus Equity & Convertible Income Fund Price Performance

Shares of NIE stock traded down $0.27 on Thursday, hitting $24.48. The stock had a trading volume of 44,487 shares, compared to its average volume of 65,452. The company’s 50 day moving average price is $25.41 and its 200-day moving average price is $25.62. Virtus Equity & Convertible Income Fund has a 1 year low of $22.78 and a 1 year high of $27.24.

Virtus Equity & Convertible Income Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend was Monday, September 14th.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the ticker symbol NIE. The fund seeks to provide investors with current income and long-term capital appreciation through a managed portfolio of equity securities and convertible securities.

The fund invests in common stocks and other equity-related securities, as well as convertible bonds and preferred securities. Convertible investments may provide income while also offering the potential to participate in the appreciation of the underlying company’s common stock.