Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Update

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 22,900 shares, a decline of 49.4% from the February 13th total of 45,300 shares. Based on an average daily volume of 62,700 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 32,400.0% in the 4th quarter. CoreCap Advisors LLC now owns 1,300 shares of the company’s stock worth $32,000 after acquiring an additional 1,296 shares in the last quarter. POM Investment Strategies LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 4th quarter worth approximately $42,000. JPMorgan Chase & Co. boosted 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 acquiring an additional 650 shares in the last quarter. Silverlake Wealth Management LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 4th quarter worth approximately $201,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 4th quarter worth approximately $214,000.

Virtus Equity & Convertible Income Fund Stock Up 1.3 %

NYSE NIE traded up $0.29 during trading on Friday, reaching $22.14. 50,548 shares of the company traded hands, compared to its average volume of 63,825. Virtus Equity & Convertible Income Fund has a 1-year low of $20.75 and a 1-year high of $25.44. The stock’s 50 day moving average price is $24.29 and its two-hundred day moving average price is $23.82.

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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 9.03%. The ex-dividend date of this dividend is Thursday, June 12th.

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.