Virtus Equity & Convertible Income Fund (NYSE:NIE) Trading 1.1% Higher

Virtus Equity & Convertible Income Fund (NYSE:NIE) shares traded up 1.1% on Wednesday . The stock traded as high as $23.23 and last traded at $23.18. 81,540 shares were traded during mid-day trading, an increase of 22% from the average session volume of 66,847 shares. The stock had previously closed at $22.92.

Virtus Equity & Convertible Income Fund Price Performance

The firm has a 50-day moving average price of $22.46 and a two-hundred day moving average price of $21.91.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.00 annualized dividend and a dividend yield of 8.61%.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Several hedge funds have recently modified their holdings of NIE. ICA Group Wealth Management LLC acquired a new position in Virtus Equity & Convertible Income Fund during the fourth quarter worth $31,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Virtus Equity & Convertible Income Fund in the first quarter valued at $34,000. Advisor Resource Council acquired a new stake in shares of Virtus Equity & Convertible Income Fund in the fourth quarter valued at $208,000. Silverlake Wealth Management LLC acquired a new stake in shares of Virtus Equity & Convertible Income Fund in the first quarter valued at $209,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Virtus Equity & Convertible Income Fund in the fourth quarter valued at $241,000.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.