Virtus Convertible & Income Fund II (NYSE:NCZ) Short Interest Up 154.3% in July

Virtus Convertible & Income Fund II (NYSE:NCZ) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 79,132 shares, an increase of 154.3% from the June 30th total of 31,118 shares. Based on an average daily trading volume, of 65,903 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Saba Capital Management L.P. bought a new position in shares of Virtus Convertible & Income Fund II during the first quarter valued at $4,717,000. Advisors Asset Management Inc. grew its holdings in shares of Virtus Convertible & Income Fund II by 22.9% in the 4th quarter. Advisors Asset Management Inc. now owns 1,052,148 shares of the investment management company’s stock worth $14,499,000 after purchasing an additional 196,305 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Virtus Convertible & Income Fund II by 85.5% during the 4th quarter. Guggenheim Capital LLC now owns 224,609 shares of the investment management company’s stock worth $3,095,000 after purchasing an additional 103,556 shares in the last quarter. Bank of America Corp DE increased its position in shares of Virtus Convertible & Income Fund II by 94.2% during the 3rd quarter. Bank of America Corp DE now owns 125,244 shares of the investment management company’s stock worth $1,713,000 after purchasing an additional 60,736 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in Virtus Convertible & Income Fund II by 20.7% during the 4th quarter. LPL Financial LLC now owns 270,520 shares of the investment management company’s stock valued at $3,728,000 after purchasing an additional 46,388 shares during the last quarter.

Virtus Convertible & Income Fund II Trading Down 0.1%

Shares of Virtus Convertible & Income Fund II stock traded down $0.02 during midday trading on Monday, hitting $15.15. The company had a trading volume of 60,361 shares, compared to its average volume of 75,729. The business’s 50 day simple moving average is $15.54 and its two-hundred day simple moving average is $14.88. Virtus Convertible & Income Fund II has a 1-year low of $12.94 and a 1-year high of $16.00.

Virtus Convertible & Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 9.5%.

Virtus Convertible & Income Fund II Company Profile

Virtus Convertible & Income Fund II (NYSE: NCZ) is a diversified, closed‐end management investment company that seeks to provide shareholders with a combination of current income and capital appreciation. The fund primarily invests in convertible securities issued by U.S. and non-U.S. companies, along with a mix of high‐yield and investment-grade fixed-income instruments. By blending exposure to equity-linked convertibles and traditional debt, NCZ aims to deliver enhanced returns across varying market environments.

The portfolio is actively managed by the Virtus Convertible & Income Portfolio Management Team, a group of seasoned investment professionals affiliated with Virtus Investment Partners.