Virtus Convertible & Income Fund (NYSE:NCV) Sees Significant Increase in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 79,989 shares, a growth of 54.1% from the March 31st total of 51,913 shares. Based on an average trading volume of 106,694 shares, the days-to-cover ratio is currently 0.7 days.

Virtus Convertible & Income Fund Price Performance

Shares of NCV stock opened at $16.55 on Tuesday. Virtus Convertible & Income Fund has a twelve month low of $12.82 and a twelve month high of $16.70. The company’s 50-day moving average price is $15.78 and its 200-day moving average price is $15.62.

Virtus Convertible & Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 11th will be issued a $0.136 dividend. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date is Monday, May 11th.

Institutional Trading of Virtus Convertible & Income Fund

Several hedge funds have recently made changes to their positions in NCV. Blue Bell Private Wealth Management LLC raised its position in shares of Virtus Convertible & Income Fund by 649.9% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 6,749 shares of the investment management company’s stock valued at $101,000 after buying an additional 5,849 shares during the period. Global Retirement Partners LLC grew its position in Virtus Convertible & Income Fund by 372.7% in the fourth quarter. Global Retirement Partners LLC now owns 8,404 shares of the investment management company’s stock worth $127,000 after acquiring an additional 6,626 shares during the period. Jane Street Group LLC purchased a new position in Virtus Convertible & Income Fund in the second quarter worth approximately $155,000. Alteri Wealth LLC increased its stake in Virtus Convertible & Income Fund by 9.1% during the fourth quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock worth $172,000 after acquiring an additional 946 shares during the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new stake in Virtus Convertible & Income Fund in the fourth quarter valued at $179,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.