Virtus Convertible & Income Fund II (NYSE:NCZ) Sees Large Growth in Short Interest

Virtus Convertible & Income Fund II (NYSE:NCZ) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 398,000 shares, a growth of 63.2% from the November 30th total of 243,900 shares. Based on an average trading volume of 388,700 shares, the days-to-cover ratio is presently 1.0 days.

Virtus Convertible & Income Fund II Price Performance

Shares of NYSE:NCZ traded down $0.04 during midday trading on Friday, hitting $3.15. 281,752 shares of the stock were exchanged, compared to its average volume of 472,984. Virtus Convertible & Income Fund II has a 52-week low of $2.70 and a 52-week high of $3.36. The business’s fifty day simple moving average is $3.19 and its two-hundred day simple moving average is $3.06.

Virtus Convertible & Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 45.71%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Investors Weigh In On Virtus Convertible & Income Fund II

Large investors have recently made changes to their positions in the company. Integrated Capital Management Inc. raised its position in Virtus Convertible & Income Fund II by 6.0% during the third quarter. Integrated Capital Management Inc. now owns 81,897 shares of the investment management company’s stock valued at $255,000 after acquiring an additional 4,646 shares in the last quarter. Virtu Financial LLC increased its stake in shares of Virtus Convertible & Income Fund II by 44.2% during the 3rd quarter. Virtu Financial LLC now owns 20,137 shares of the investment management company’s stock worth $63,000 after purchasing an additional 6,176 shares during the last quarter. Sykon Capital LLC bought a new position in shares of Virtus Convertible & Income Fund II during the 2nd quarter valued at $29,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Virtus Convertible & Income Fund II in the 3rd quarter valued at $40,000. Finally, Wealth Effects LLC bought a new stake in Virtus Convertible & Income Fund II in the third quarter worth $44,000.

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.