Virtus Equity & Convertible Income Fund (NYSE:NIE) Stock Price Down 0.2% – Time to Sell?

Virtus Equity & Convertible Income Fund (NYSE:NIE)’s stock price dropped 0.2% on Thursday . The stock traded as low as $24.34 and last traded at $24.39. Approximately 45,366 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 65,664 shares. The stock had previously closed at $24.43.

Virtus Equity & Convertible Income Fund Stock Performance

The business’s 50-day moving average is $23.85 and its two-hundred day moving average is $23.10.

Virtus Equity & Convertible Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 8.17%. The ex-dividend date of this dividend is Thursday, December 12th.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Luken Investment Analytics LLC acquired a new position in Virtus Equity & Convertible Income Fund during the second quarter worth $27,000. Northwestern Mutual Wealth Management Co. raised its stake in Virtus Equity & Convertible Income Fund by 451.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,828 shares of the company’s stock worth $275,000 after purchasing an additional 9,682 shares during the period. Global Assets Advisory LLC acquired a new position in Virtus Equity & Convertible Income Fund in the 3rd quarter valued at about $275,000. International Assets Investment Management LLC boosted its holdings in Virtus Equity & Convertible Income Fund by 7.4% in the 2nd quarter. International Assets Investment Management LLC now owns 13,345 shares of the company’s stock valued at $310,000 after purchasing an additional 925 shares during the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Virtus Equity & Convertible Income Fund in the 2nd quarter valued at approximately $327,000.

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.