Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Down 80.5% in July

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 18,154 shares, a decline of 80.5% from the July 15th total of 93,145 shares. Based on an average daily volume of 115,346 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NCV. Cetera Investment Advisers raised its position in shares of Virtus Convertible & Income Fund by 2.7% during the first quarter. Cetera Investment Advisers now owns 27,019 shares of the investment management company’s stock worth $402,000 after purchasing an additional 708 shares during the period. Alteri Wealth LLC raised its holdings in shares of Virtus Convertible & Income Fund by 9.1% during the fourth quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock worth $172,000 after acquiring an additional 946 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Virtus Convertible & Income Fund during the second quarter worth $29,000. Raymond James Financial Inc. lifted its position in Virtus Convertible & Income Fund by 3.2% in the 2nd quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock valued at $1,110,000 after acquiring an additional 2,388 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Virtus Convertible & Income Fund by 1.0% in the 3rd quarter. Bank of America Corp DE now owns 263,876 shares of the investment management company’s stock valued at $3,958,000 after acquiring an additional 2,669 shares in the last quarter.

Virtus Convertible & Income Fund Price Performance

Virtus Convertible & Income Fund stock traded down $0.12 on Thursday, reaching $17.26. The company’s stock had a trading volume of 40,850 shares, compared to its average volume of 94,407. The business’s fifty day moving average price is $17.09 and its 200 day moving average price is $16.54. Virtus Convertible & Income Fund has a twelve month low of $14.27 and a twelve month high of $17.65.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.136 per share. 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%.

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.