Virtus Convertible & Income Fund II (NYSE:NCZ) Sees Significant Decrease in Short Interest

Virtus Convertible & Income Fund II (NYSE:NCZ) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 57,900 shares, a drop of 50.0% from the March 15th total of 115,700 shares. Based on an average trading volume of 100,400 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund II

Several hedge funds have recently added to or reduced their stakes in NCZ. Atria Wealth Solutions Inc. raised its position in Virtus Convertible & Income Fund II by 152.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 31,432 shares of the investment management company’s stock valued at $98,000 after acquiring an additional 19,000 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Virtus Convertible & Income Fund II by 4.4% during the 4th quarter. Private Advisor Group LLC now owns 133,853 shares of the investment management company’s stock worth $419,000 after buying an additional 5,636 shares during the period. Commonwealth Equity Services LLC grew its stake in Virtus Convertible & Income Fund II by 11.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 242,479 shares of the investment management company’s stock valued at $759,000 after acquiring an additional 24,720 shares during the period. LPL Financial LLC increased its holdings in Virtus Convertible & Income Fund II by 103.8% in the 4th quarter. LPL Financial LLC now owns 592,550 shares of the investment management company’s stock worth $1,855,000 after acquiring an additional 301,805 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in Virtus Convertible & Income Fund II by 25.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 240,343 shares of the investment management company’s stock valued at $752,000 after purchasing an additional 48,163 shares in the last quarter.

Virtus Convertible & Income Fund II Stock Down 1.4 %

Shares of NCZ stock traded down $0.16 during mid-day trading on Wednesday, reaching $10.95. The stock had a trading volume of 38,144 shares, compared to its average volume of 112,190. The business’s fifty day moving average is $11.88 and its 200-day moving average is $12.45. Virtus Convertible & Income Fund II has a 1-year low of $10.23 and a 1-year high of $13.44.

Virtus Convertible & Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Friday, April 11th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.15%.

About Virtus Convertible & Income Fund II

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.