Cambridge Investment Research Advisors Inc. Decreases Stake in Virtus Convertible & Income Fund II (NYSE:NCZ)

Cambridge Investment Research Advisors Inc. lowered its holdings in Virtus Convertible & Income Fund II (NYSE:NCZ) by 75.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,846 shares of the investment management company’s stock after selling 80,258 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Virtus Convertible & Income Fund II were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in Virtus Convertible & Income Fund II during the fourth quarter valued at approximately $644,000. Commonwealth Equity Services LLC raised its holdings in shares of Virtus Convertible & Income Fund II by 11.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 242,479 shares of the investment management company’s stock worth $759,000 after buying an additional 24,720 shares during the period. Advisors Asset Management Inc. grew its stake in Virtus Convertible & Income Fund II by 5.5% in the fourth quarter. Advisors Asset Management Inc. now owns 3,093,637 shares of the investment management company’s stock worth $9,683,000 after purchasing an additional 162,103 shares in the last quarter. LPL Financial LLC grew its stake in Virtus Convertible & Income Fund II by 103.8% in the fourth quarter. LPL Financial LLC now owns 592,550 shares of the investment management company’s stock worth $1,855,000 after purchasing an additional 301,805 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC grew its stake in Virtus Convertible & Income Fund II by 51.5% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 265,789 shares of the investment management company’s stock worth $832,000 after purchasing an additional 90,377 shares in the last quarter.

Virtus Convertible & Income Fund II Stock Down 0.1%

Shares of NYSE NCZ opened at $12.95 on Friday. The stock’s fifty day simple moving average is $12.35 and its two-hundred day simple moving average is $12.22. Virtus Convertible & Income Fund II has a 12-month low of $10.23 and a 12-month high of $13.44.

Virtus Convertible & Income Fund II Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, July 14th will be paid a $0.12 dividend. The ex-dividend date is Friday, July 11th. This represents a yield of 11.21%.

Virtus Convertible & Income Fund II Company Profile

Virtus Convertible & Income Fund II 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.