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

Virtus Convertible & Income Fund II (NYSE:NCZ) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 26,541 shares, a growth of 16.5% from the February 12th total of 22,775 shares. Based on an average daily trading volume, of 39,637 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 39,637 shares, the days-to-cover ratio is presently 0.7 days.

Virtus Convertible & Income Fund II Trading Up 0.1%

Shares of Virtus Convertible & Income Fund II stock opened at $14.03 on Tuesday. Virtus Convertible & Income Fund II has a 1-year low of $10.23 and a 1-year high of $14.99. The company’s fifty day simple moving average is $14.45 and its 200-day simple moving average is $14.07.

Virtus Convertible & Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 11th will be issued a $0.12 dividend. This represents a c) annualized dividend and a dividend yield of 10.3%. The ex-dividend date of this dividend is Monday, May 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its holdings in shares of Virtus Convertible & Income Fund II by 89.3% in the third quarter. Penserra Capital Management LLC now owns 523,378 shares of the investment management company’s stock worth $7,159,000 after purchasing an additional 246,902 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Virtus Convertible & Income Fund II by 7.4% in the third quarter. Advisors Asset Management Inc. now owns 855,843 shares of the investment management company’s stock worth $11,708,000 after buying an additional 59,074 shares in the last quarter. Park Avenue Securities LLC bought a new position in Virtus Convertible & Income Fund II during the third quarter valued at approximately $1,261,000. Osaic Holdings Inc. boosted its stake in Virtus Convertible & Income Fund II by 60.5% during the second quarter. Osaic Holdings Inc. now owns 124,630 shares of the investment management company’s stock valued at $1,600,000 after buying an additional 46,983 shares during the last quarter. Finally, Cornerstone Advisors LLC purchased a new position in Virtus Convertible & Income Fund II during the 2nd quarter valued at approximately $765,000.

About Virtus Convertible & Income Fund II

Virtus Convertible & Income Fund II (NYSE: NCZ) is a diversified, closed‐end management investment company that seeks to provide shareholders with a combination of current income and capital appreciation. The fund primarily invests in convertible securities issued by U.S. and non-U.S. companies, along with a mix of high‐yield and investment-grade fixed-income instruments. By blending exposure to equity-linked convertibles and traditional debt, NCZ aims to deliver enhanced returns across varying market environments.

The portfolio is actively managed by the Virtus Convertible & Income Portfolio Management Team, a group of seasoned investment professionals affiliated with Virtus Investment Partners.