Virtus Convertible & Income Fund II (NYSE:NCZ) Stock Falls 0.9% – What’s Next?

Virtus Convertible & Income Fund II (NYSE:NCZ)’s share price fell 0.9% on Tuesday. The company traded as low as $13.45 and last traded at $13.5710. Approximately 49,402 shares traded hands during trading, a decline of 27% from the average session volume of 68,097 shares. The stock had previously closed at $13.69.

Virtus Convertible & Income Fund II Price Performance

The firm’s fifty day moving average price is $14.33 and its two-hundred day moving average price is $14.87.

Virtus Convertible & Income Fund II Dividend Announcement

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 paid a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend is Thursday, November 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund II

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Virtus Convertible & Income Fund II during the 3rd quarter valued at $15,307,000. Private Advisor Group LLC purchased a new position in shares of Virtus Convertible & Income Fund II in the third quarter worth $841,000. Kestra Advisory Services LLC boosted its holdings in shares of Virtus Convertible & Income Fund II by 11.2% during the third quarter. Kestra Advisory Services LLC now owns 47,369 shares of the investment management company’s stock worth $668,000 after purchasing an additional 4,762 shares during the period. Choreo LLC lifted its holdings in Virtus Convertible & Income Fund II by 11.6% in the 3rd quarter. Choreo LLC now owns 44,353 shares of the investment management company’s stock worth $625,000 after buying an additional 4,615 shares during the period. Finally, Readystate Asset Management LP boosted its holdings in Virtus Convertible & Income Fund II by 77.8% in the first quarter. Readystate Asset Management LP now owns 22,422 shares of the investment management company’s stock valued at $301,000 after acquiring an additional 9,808 shares in the last quarter.

Virtus Convertible & Income Fund II Company Profile

Virtus Convertible & Income Fund II (NYSE: NCZ) is a closed-end investment fund that seeks to provide current income and, secondarily, capital appreciation. The fund invests primarily in convertible securities and income-producing corporate debt securities. Its portfolio may include convertible bonds, convertible preferred stocks, and lower-rated or high-yield debt issued by companies in a range of industries. Convertible securities can offer income while providing the potential to participate in the underlying company’s equity appreciation.