Short Interest in Virtus Equity & Convertible Income Fund (NYSE:NIE) Rises By 241.2%

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 66,200 shares, a growth of 241.2% from the March 31st total of 19,400 shares. Based on an average daily trading volume, of 70,700 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Virtus Equity & Convertible Income Fund by 1.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 89,927 shares of the company’s stock valued at $1,789,000 after acquiring an additional 888 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its holdings in Virtus Equity & Convertible Income Fund by 3.0% in the third quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 203,465 shares of the company’s stock worth $4,047,000 after purchasing an additional 5,988 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Virtus Equity & Convertible Income Fund by 3.8% in the third quarter. Cornerstone Wealth Management LLC now owns 18,372 shares of the company’s stock worth $365,000 after purchasing an additional 670 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Virtus Equity & Convertible Income Fund by 4.2% in the third quarter. Atria Wealth Solutions Inc. now owns 17,181 shares of the company’s stock worth $342,000 after purchasing an additional 688 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Virtus Equity & Convertible Income Fund by 29.4% in the third quarter. D.A. Davidson & CO. now owns 19,280 shares of the company’s stock worth $383,000 after purchasing an additional 4,375 shares in the last quarter.

Virtus Equity & Convertible Income Fund Price Performance

Shares of NYSE:NIE opened at $21.66 on Friday. The company’s fifty day moving average is $22.03 and its two-hundred day moving average is $21.16. Virtus Equity & Convertible Income Fund has a 12-month low of $18.61 and a 12-month high of $22.80.

Virtus Equity & Convertible Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 11th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 9.23%. The ex-dividend date was Friday, March 8th.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.