Virtus Convertible & Income Fund (NYSE:NCV) Sees Significant Decline in Short Interest

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 18,154 shares, a decrease of 80.5% from the July 15th total of 93,145 shares. Based on an average daily volume of 115,346 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Saba Capital Management L.P. raised its stake in Virtus Convertible & Income Fund by 373.3% during the 1st quarter. Saba Capital Management L.P. now owns 723,578 shares of the investment management company’s stock valued at $10,767,000 after acquiring an additional 570,704 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Virtus Convertible & Income Fund by 6.3% during the 4th quarter. Advisors Asset Management Inc. now owns 699,109 shares of the investment management company’s stock worth $10,592,000 after acquiring an additional 41,631 shares during the period. LPL Financial LLC grew its stake in shares of Virtus Convertible & Income Fund by 11.1% in the 4th quarter. LPL Financial LLC now owns 369,672 shares of the investment management company’s stock valued at $5,601,000 after purchasing an additional 37,012 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Virtus Convertible & Income Fund by 70.3% in the 4th quarter. Guggenheim Capital LLC now owns 337,948 shares of the investment management company’s stock valued at $5,120,000 after purchasing an additional 139,536 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Virtus Convertible & Income Fund by 1.0% in the third quarter. Bank of America Corp DE now owns 263,876 shares of the investment management company’s stock valued at $3,958,000 after purchasing an additional 2,669 shares during the period.

Virtus Convertible & Income Fund Price Performance

Shares of Virtus Convertible & Income Fund stock opened at $17.34 on Wednesday. Virtus Convertible & Income Fund has a 1 year low of $14.27 and a 1 year high of $17.65. The company’s fifty day moving average is $17.09 and its two-hundred day moving average is $16.52.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.136 per share. The ex-dividend date is Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 9.4%.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.