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

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 25,900 shares, an increase of 197.7% from the May 15th total of 8,700 shares. Based on an average daily volume of 89,000 shares, the short-interest ratio is presently 0.3 days.

Virtus Convertible & Income Fund Stock Performance

Shares of Virtus Convertible & Income Fund stock opened at $13.63 on Friday. Virtus Convertible & Income Fund has a twelve month low of $11.51 and a twelve month high of $14.92. The business has a 50-day moving average price of $13.07 and a 200 day moving average price of $13.61.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Thursday, August 28th. Investors of record on Monday, August 11th will be paid a $0.136 dividend. The ex-dividend date is Monday, August 11th. This represents a dividend yield of 12%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Institutional investors and hedge funds have recently modified their holdings of the business. WPG Advisers LLC purchased a new position in shares of Virtus Convertible & Income Fund in the 1st quarter valued at about $25,000. Meridian Wealth Management LLC purchased a new position in shares of Virtus Convertible & Income Fund in the 4th quarter valued at about $43,000. SVB Wealth LLC purchased a new position in shares of Virtus Convertible & Income Fund in the 4th quarter valued at about $77,000. Oppenheimer & Co. Inc. purchased a new position in shares of Virtus Convertible & Income Fund in the 4th quarter valued at about $88,000. Finally, Cornerstone Advisors LLC increased its stake in shares of Virtus Convertible & Income Fund by 40.3% in the 4th quarter. Cornerstone Advisors LLC now owns 26,100 shares of the investment management company’s stock valued at $91,000 after purchasing an additional 7,497 shares in the last quarter.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.