Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Down 49.4% in February

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 22,900 shares, a drop of 49.4% from the February 13th total of 45,300 shares. Based on an average trading volume of 62,700 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

A number of hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of Virtus Equity & Convertible Income Fund by 3.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,078,320 shares of the company’s stock worth $26,591,000 after purchasing an additional 39,342 shares during the period. Advisors Asset Management Inc. lifted its position in Virtus Equity & Convertible Income Fund by 11.7% during the fourth quarter. Advisors Asset Management Inc. now owns 1,065,736 shares of the company’s stock worth $26,281,000 after buying an additional 111,318 shares during the period. Raymond James Financial Inc. acquired a new stake in Virtus Equity & Convertible Income Fund in the 4th quarter worth about $13,117,000. Guggenheim Capital LLC grew its holdings in Virtus Equity & Convertible Income Fund by 2.2% in the 4th quarter. Guggenheim Capital LLC now owns 491,981 shares of the company’s stock valued at $12,132,000 after buying an additional 10,789 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in shares of Virtus Equity & Convertible Income Fund by 4.1% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 220,976 shares of the company’s stock valued at $5,449,000 after acquiring an additional 8,769 shares during the last quarter.

Virtus Equity & Convertible Income Fund Trading Up 1.3 %

NIE stock traded up $0.29 during trading on Friday, hitting $22.14. The stock had a trading volume of 50,548 shares, compared to its average volume of 63,825. The company’s 50 day moving average price is $24.29 and its two-hundred day moving average price is $23.82. Virtus Equity & Convertible Income Fund has a 1-year low of $20.75 and a 1-year high of $25.44.

Virtus Equity & Convertible Income Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.03%. The ex-dividend date is Thursday, June 12th.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund is a closed ended equity 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 the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.