Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Increases By 460.8%

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 44,300 shares, a growth of 460.8% from the February 13th total of 7,900 shares. Based on an average trading volume of 136,700 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in Virtus Convertible & Income Fund in the 3rd quarter valued at $8,974,000. Raymond James Financial Inc. purchased a new stake in shares of Virtus Convertible & Income Fund in the fourth quarter valued at about $970,000. LPL Financial LLC boosted its stake in shares of Virtus Convertible & Income Fund by 34.5% during the fourth quarter. LPL Financial LLC now owns 1,037,074 shares of the investment management company’s stock worth $3,599,000 after buying an additional 265,938 shares during the period. Congress Park Capital LLC grew its holdings in shares of Virtus Convertible & Income Fund by 11.5% during the fourth quarter. Congress Park Capital LLC now owns 1,743,406 shares of the investment management company’s stock worth $6,050,000 after buying an additional 180,077 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Virtus Convertible & Income Fund in the 4th quarter valued at about $334,000.

Virtus Convertible & Income Fund Price Performance

NCV traded up $0.03 on Wednesday, reaching $13.02. The company had a trading volume of 145,285 shares, compared to its average volume of 139,763. Virtus Convertible & Income Fund has a 1 year low of $12.06 and a 1 year high of $14.92. The stock has a 50-day moving average price of $14.00 and a 200-day moving average price of $14.04.

Virtus Convertible & Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a $0.136 dividend. This represents a $1.63 annualized dividend and a dividend yield of 12.54%. The ex-dividend date of this dividend is Thursday, June 12th.

Virtus Convertible & Income Fund Company Profile

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.