Virtus Convertible & Income Fund (NYSE:NCV) Sees Large Increase in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 64,911 shares, an increase of 111.7% from the January 29th total of 30,655 shares. Based on an average daily trading volume, of 126,940 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 126,940 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

A number of large investors have recently bought and sold shares of NCV. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Virtus Convertible & Income Fund in the 4th quarter worth approximately $2,641,000. Guggenheim Capital LLC boosted its stake in Virtus Convertible & Income Fund by 70.3% in the fourth quarter. Guggenheim Capital LLC now owns 337,948 shares of the investment management company’s stock valued at $5,120,000 after acquiring an additional 139,536 shares in the last quarter. Saba Capital Management L.P. grew its holdings in Virtus Convertible & Income Fund by 374.1% in the fourth quarter. Saba Capital Management L.P. now owns 152,874 shares of the investment management company’s stock worth $2,316,000 after purchasing an additional 120,630 shares during the last quarter. Cornerstone Advisors LLC purchased a new position in Virtus Convertible & Income Fund in the second quarter worth $1,580,000. Finally, Congress Park Capital LLC increased its position in shares of Virtus Convertible & Income Fund by 16.0% during the fourth quarter. Congress Park Capital LLC now owns 735,137 shares of the investment management company’s stock worth $11,137,000 after purchasing an additional 101,287 shares in the last quarter.

Virtus Convertible & Income Fund Stock Down 0.4%

NYSE:NCV traded down $0.06 during mid-day trading on Friday, reaching $16.37. The company’s stock had a trading volume of 8,977 shares, compared to its average volume of 118,296. Virtus Convertible & Income Fund has a 1 year low of $11.51 and a 1 year high of $16.70. The stock has a fifty day moving average of $15.88 and a 200-day moving average of $15.39.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.