Virtus Equity & Convertible Income Fund (NYSE:NIE) Sees Large Decrease in Short Interest

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 16,900 shares, a decrease of 26.2% from the February 28th total of 22,900 shares. Based on an average trading volume of 62,400 shares, the short-interest ratio is currently 0.3 days.

Virtus Equity & Convertible Income Fund Stock Performance

Shares of NIE traded down $0.07 on Monday, reaching $22.13. 100,912 shares of the company’s stock traded hands, compared to its average volume of 64,204. The stock’s 50 day simple moving average is $23.88 and its two-hundred day simple moving average is $23.82. Virtus Equity & Convertible Income Fund has a 52-week low of $20.75 and a 52-week high of $25.44.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 9.04%. The ex-dividend date is Thursday, June 12th.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in NIE. CoreCap Advisors LLC increased its holdings in Virtus Equity & Convertible Income Fund by 32,400.0% during the fourth quarter. CoreCap Advisors LLC now owns 1,300 shares of the company’s stock worth $32,000 after buying an additional 1,296 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Virtus Equity & Convertible Income Fund during the 4th quarter worth approximately $42,000. JPMorgan Chase & Co. raised its holdings in shares of Virtus Equity & Convertible Income Fund by 29.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,881 shares of the company’s stock worth $66,000 after purchasing an additional 650 shares during the period. Silverlake Wealth Management LLC purchased a new position in Virtus Equity & Convertible Income Fund in the fourth quarter valued at approximately $201,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Virtus Equity & Convertible Income Fund during the fourth quarter valued at $214,000.

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.