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

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 5,893 shares, a decrease of 81.2% from the March 31st total of 31,338 shares. Based on an average daily trading volume, of 75,152 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

A number of hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. acquired a new position in Virtus Equity & Convertible Income Fund in the 4th quarter worth about $7,431,000. Cornerstone Advisors LLC raised its holdings in Virtus Equity & Convertible Income Fund by 97.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 223,985 shares of the company’s stock worth $5,624,000 after purchasing an additional 110,794 shares during the period. World Investment Advisors acquired a new position in Virtus Equity & Convertible Income Fund in the 3rd quarter worth about $2,438,000. Evolve Private Wealth LLC acquired a new position in Virtus Equity & Convertible Income Fund in the 4th quarter worth about $2,028,000. Finally, Guggenheim Capital LLC raised its holdings in Virtus Equity & Convertible Income Fund by 14.0% in the 4th quarter. Guggenheim Capital LLC now owns 479,040 shares of the company’s stock worth $11,938,000 after purchasing an additional 58,661 shares during the period.

Virtus Equity & Convertible Income Fund Stock Up 1.4%

Shares of NIE traded up $0.37 during mid-day trading on Friday, reaching $25.89. The company had a trading volume of 97,711 shares, compared to its average volume of 62,355. Virtus Equity & Convertible Income Fund has a 52-week low of $21.40 and a 52-week high of $26.00. The stock has a 50 day moving average of $24.63 and a two-hundred day moving average of $25.10.

Virtus Equity & Convertible Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were paid a $0.50 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.7%.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund (NYSE:NIE) is a diversified, closed-end management investment company designed to provide shareholders with a combination of current income and capital appreciation. The fund seeks to achieve its objectives by investing predominantly in convertible securities of U.S. and non-U.S. issuers alongside selected common stocks. Leveraging the hybrid characteristics of convertibles, the fund aims to capture income potential while maintaining exposure to equity market upside.

The fund’s investment strategy centers on a flexible allocation between fixed-income and equity components, with portfolio managers conducting rigorous credit and equity research to identify issuers offering attractive risk-reward profiles.