Wolverine Asset Management LLC Invests $78,000 in Virtus Convertible & Income Fund II (NYSE:NCZ)

Wolverine Asset Management LLC purchased a new stake in Virtus Convertible & Income Fund II (NYSE:NCZ) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 25,139 shares of the investment management company’s stock, valued at approximately $78,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sykon Capital LLC acquired a new stake in shares of Virtus Convertible & Income Fund II during the 2nd quarter worth $29,000. Great Valley Advisor Group Inc. bought a new stake in Virtus Convertible & Income Fund II during the second quarter worth about $32,000. Sequoia Financial Advisors LLC acquired a new stake in Virtus Convertible & Income Fund II during the third quarter worth about $40,000. Wealth Effects LLC bought a new position in Virtus Convertible & Income Fund II in the 3rd quarter valued at about $44,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund II in the 2nd quarter valued at approximately $59,000.

Virtus Convertible & Income Fund II Stock Down 0.3 %

Shares of Virtus Convertible & Income Fund II stock opened at $3.14 on Friday. The company has a 50 day moving average of $3.09 and a 200-day moving average of $2.98. Virtus Convertible & Income Fund II has a 1-year low of $2.69 and a 1-year high of $3.24.

Virtus Convertible & Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be issued a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 11.46%. The ex-dividend date of this dividend is Tuesday, November 12th.

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.