Virtus Equity & Convertible Income Fund (NYSE:NIE) Announces Quarterly Dividend of $0.58

Virtus Equity & Convertible Income Fund (NYSE:NIE) declared a quarterly dividend on Wednesday, September 2nd. Stockholders of record on Monday, September 14th will be paid a dividend of 0.58 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Monday, September 14th.

Virtus Equity & Convertible Income Fund Price Performance

NYSE:NIE opened at $26.06 on Thursday. The stock has a 50-day moving average price of $26.30 and a two-hundred day moving average price of $25.76. Virtus Equity & Convertible Income Fund has a 1 year low of $22.78 and a 1 year high of $27.24.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its stake in shares of Virtus Equity & Convertible Income Fund by 9.8% during the 1st quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock worth $153,000 after purchasing an additional 617 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Virtus Equity & Convertible Income Fund by 9.3% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,362 shares of the company’s stock valued at $251,000 after purchasing an additional 794 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in Virtus Equity & Convertible Income Fund by 3.5% in the fourth quarter. Cornerstone Wealth Management LLC now owns 26,412 shares of the company’s stock valued at $658,000 after acquiring an additional 886 shares during the last quarter. PMG Family Office LLC increased its stake in shares of Virtus Equity & Convertible Income Fund by 7.5% in the 1st quarter. PMG Family Office LLC now owns 31,747 shares of the company’s stock valued at $742,000 after purchasing an additional 2,223 shares during the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in shares of Virtus Equity & Convertible Income Fund by 1.1% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 216,008 shares of the company’s stock worth $5,383,000 after acquiring an additional 2,299 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.