AllianzGI Equity & Convertible Income Fund (NYSE:NIE) Stock Price Down 1%

Shares of AllianzGI Equity & Convertible Income Fund (NYSE:NIE – Get Rating) were down 1% on Thursday . The stock traded as low as $20.55 and last traded at $20.75. Approximately 92,333 shares changed hands during trading, a decline of 9% from the average daily volume of 101,166 shares. The stock had previously closed at $20.95.

The stock has a 50 day moving average of $22.32 and a two-hundred day moving average of $25.52.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Monday, September 12th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 9.59%. The ex-dividend date of this dividend is Friday, September 9th.

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC boosted its stake in shares of AllianzGI Equity & Convertible Income Fund by 13.4% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 5,426 shares of the company’s stock worth $147,000 after buying an additional 640 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of AllianzGI Equity & Convertible Income Fund during the 1st quarter worth about $27,000. Future Financial Wealth Managment LLC acquired a new position in shares of AllianzGI Equity & Convertible Income Fund during the 4th quarter worth about $30,000. Confluence Wealth Services Inc. acquired a new position in shares of AllianzGI Equity & Convertible Income Fund during the 4th quarter worth about $37,000. Finally, Tcwp LLC acquired a new position in shares of AllianzGI Equity & Convertible Income Fund during the 1st quarter worth about $49,000.

About AllianzGI Equity & Convertible Income Fund (NYSE:NIE)

AllianzGI 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.

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