Short Interest in Virtus Convertible & Income Fund II (NYSE:NCZ) Declines By 45.7%

Virtus Convertible & Income Fund II (NYSE:NCZ) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 20,300 shares, a drop of 45.7% from the February 29th total of 37,400 shares. Based on an average daily trading volume, of 556,500 shares, the days-to-cover ratio is currently 0.0 days.

Virtus Convertible & Income Fund II Stock Up 0.7 %

Shares of NCZ stock traded up $0.02 on Thursday, reaching $3.00. 145,147 shares of the company were exchanged, compared to its average volume of 501,456. The business has a 50-day moving average price of $2.89 and a 200 day moving average price of $2.83. Virtus Convertible & Income Fund II has a 1 year low of $2.50 and a 1 year high of $3.15.

Virtus Convertible & Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 12.00%. The ex-dividend date is Thursday, June 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new position in shares of Virtus Convertible & Income Fund II during the fourth quarter valued at $31,000. Walleye Capital LLC bought a new stake in Virtus Convertible & Income Fund II during the 3rd quarter worth about $34,000. MML Investors Services LLC bought a new position in shares of Virtus Convertible & Income Fund II during the third quarter worth $41,000. Gilliland Jeter Wealth Management LLC bought a new stake in Virtus Convertible & Income Fund II in the 4th quarter valued at $44,000. Finally, Virtu Financial LLC acquired a new position in Virtus Convertible & Income Fund II during the second quarter worth $53,000.

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.