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

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 16,900 shares, a decline 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 presently 0.3 days.

Virtus Equity & Convertible Income Fund Price Performance

NYSE NIE traded down $0.07 during trading on Monday, hitting $22.13. 100,912 shares of the company’s stock traded hands, compared to its average volume of 64,204. Virtus Equity & Convertible Income Fund has a 12-month low of $20.75 and a 12-month high of $25.44. The business has a 50 day moving average of $23.88 and a 200-day moving average of $23.82.

Virtus Equity & Convertible Income Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its position in shares of Virtus Equity & Convertible Income Fund by 3.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,078,320 shares of the company’s stock worth $26,591,000 after acquiring an additional 39,342 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Virtus Equity & Convertible Income Fund by 11.7% during the 4th quarter. Advisors Asset Management Inc. now owns 1,065,736 shares of the company’s stock valued at $26,281,000 after purchasing an additional 111,318 shares during the period. Raymond James Financial Inc. purchased a new stake in Virtus Equity & Convertible Income Fund during the 4th quarter worth about $13,117,000. Guggenheim Capital LLC lifted its holdings in Virtus Equity & Convertible Income Fund by 2.2% during the 4th quarter. Guggenheim Capital LLC now owns 491,981 shares of the company’s stock worth $12,132,000 after purchasing an additional 10,789 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in Virtus Equity & Convertible Income Fund by 4.1% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 220,976 shares of the company’s stock worth $5,449,000 after purchasing an additional 8,769 shares during the period.

About Virtus Equity & Convertible Income Fund

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.