Virtus Equity & Convertible Income Fund (NYSE:NIE) Announces $0.53 Special Dividend

Virtus Equity & Convertible Income Fund (NYSE:NIE) declared a special dividend on Friday, December 19th. Investors of record on Monday, December 29th will be given a dividend of 0.526 per share on Friday, January 9th. The ex-dividend date of this dividend is Monday, December 29th.

Virtus Equity & Convertible Income Fund Stock Performance

NYSE NIE opened at $25.52 on Friday. The stock’s 50-day simple moving average is $25.34 and its two-hundred day simple moving average is $24.71. Virtus Equity & Convertible Income Fund has a twelve month low of $18.54 and a twelve month high of $26.00.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in shares of Virtus Equity & Convertible Income Fund by 13.8% in the 1st quarter. Royal Bank of Canada now owns 559,567 shares of the company’s stock valued at $12,383,000 after acquiring an additional 67,801 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Virtus Equity & Convertible Income Fund by 2.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 395,993 shares of the company’s stock valued at $10,046,000 after buying an additional 10,453 shares during the period. Cornerstone Advisors LLC grew 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 acquiring an additional 110,794 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC increased its position in shares of Virtus Equity & Convertible Income Fund by 1.1% in the third quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 213,709 shares of the company’s stock valued at $5,366,000 after acquiring an additional 2,248 shares during the period. Finally, Wolverine Asset Management LLC raised its stake in shares of Virtus Equity & Convertible Income Fund by 1.4% during the third quarter. Wolverine Asset Management LLC now owns 165,473 shares of the company’s stock valued at $4,155,000 after acquiring an additional 2,330 shares during the last quarter.

About Virtus Equity & Convertible Income Fund

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.