Virtus Equity & Convertible Income Fund (NYSE:NIE) Stock Price Down 0% – Here’s What Happened

Virtus Equity & Convertible Income Fund (NYSE:NIE)’s share price dropped 0% during mid-day trading on Wednesday . The stock traded as low as $22.10 and last traded at $22.15. Approximately 72,992 shares changed hands during trading, an increase of 10% from the average daily volume of 66,177 shares. The stock had previously closed at $22.16.

Virtus Equity & Convertible Income Fund Price Performance

The stock’s 50-day moving average price is $21.79 and its 200-day moving average price is $23.44.

Virtus Equity & Convertible Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be issued a $0.50 dividend. The ex-dividend date is Thursday, June 12th. This represents a $2.00 annualized dividend and a yield of 9.03%.

Institutional Trading of Virtus Equity & Convertible Income Fund

A number of institutional investors have recently bought and sold shares of NIE. CoreCap Advisors LLC boosted its position in shares of Virtus Equity & Convertible Income Fund by 32,400.0% during the 4th quarter. CoreCap Advisors LLC now owns 1,300 shares of the company’s stock valued at $32,000 after purchasing an additional 1,296 shares in the last quarter. POM Investment Strategies LLC bought a new stake in Virtus Equity & Convertible Income Fund in the fourth quarter worth approximately $42,000. JPMorgan Chase & Co. lifted its stake in Virtus Equity & Convertible Income Fund by 29.1% in the third quarter. JPMorgan Chase & Co. now owns 2,881 shares of the company’s stock valued at $66,000 after buying an additional 650 shares during the period. Silverlake Wealth Management LLC bought a new position in shares of Virtus Equity & Convertible Income Fund during the 4th quarter worth approximately $201,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Virtus Equity & Convertible Income Fund during the 4th quarter worth approximately $214,000.

About Virtus Equity & Convertible Income Fund

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.