Park Avenue Securities LLC Sells 5,453 Shares of Virtus Convertible & Income Fund II (NYSE:NCZ)

Park Avenue Securities LLC lowered its holdings in shares of Virtus Convertible & Income Fund II (NYSE:NCZ) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 430,653 shares of the investment management company’s stock after selling 5,453 shares during the period. Park Avenue Securities LLC’s holdings in Virtus Convertible & Income Fund II were worth $1,339,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Advisors Asset Management Inc. increased its position in Virtus Convertible & Income Fund II by 20.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,037,395 shares of the investment management company’s stock valued at $6,092,000 after purchasing an additional 344,715 shares during the period. Cetera Advisors LLC acquired a new stake in Virtus Convertible & Income Fund II during the 1st quarter worth about $877,000. Choreo LLC bought a new position in shares of Virtus Convertible & Income Fund II in the 2nd quarter worth about $211,000. Congress Park Capital LLC boosted its holdings in shares of Virtus Convertible & Income Fund II by 7.6% during the 1st quarter. Congress Park Capital LLC now owns 997,996 shares of the investment management company’s stock worth $2,984,000 after buying an additional 70,198 shares in the last quarter. Finally, J.W. Cole Advisors Inc. bought a new stake in Virtus Convertible & Income Fund II in the second quarter valued at $100,000.

Virtus Convertible & Income Fund II Stock Performance

NCZ opened at $3.08 on Tuesday. Virtus Convertible & Income Fund II has a 1-year low of $2.50 and a 1-year high of $3.14. The company’s fifty day moving average price is $3.00 and its two-hundred day moving average price is $2.93.

Virtus Convertible & Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.36 annualized dividend and a dividend yield of 11.71%.

About Virtus Convertible & Income Fund II

Virtus Convertible & Income Fund II is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.