Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Decreases By 86.9%

Virtus Convertible & Income Fund (NYSE:NCV) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 7,900 shares, a drop of 86.9% from the January 31st total of 60,500 shares. Based on an average daily volume of 141,300 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in Virtus Convertible & Income Fund by 250.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,442 shares of the investment management company’s stock worth $30,000 after acquiring an additional 6,030 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Virtus Convertible & Income Fund during the 3rd quarter valued at about $35,000. Jane Street Group LLC acquired a new position in Virtus Convertible & Income Fund during the 3rd quarter worth approximately $36,000. Kingswood Wealth Advisors LLC acquired a new position in Virtus Convertible & Income Fund during the 4th quarter worth approximately $37,000. Finally, Meridian Wealth Management LLC acquired a new position in Virtus Convertible & Income Fund during the 4th quarter worth approximately $43,000.

Virtus Convertible & Income Fund Stock Up 1.1 %

Virtus Convertible & Income Fund stock traded up $0.16 during midday trading on Friday, reaching $13.66. The stock had a trading volume of 34,341 shares, compared to its average volume of 142,230. The firm’s fifty day simple moving average is $14.10 and its 200-day simple moving average is $14.04. Virtus Convertible & Income Fund has a 1-year low of $12.06 and a 1-year high of $14.92.

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.