Virtus Equity & Convertible Income Fund (NIE) to Distribute Quarterly Dividend of $0.58 on September 29th

Virtus Equity & Convertible Income Fund (NYSE:NIE) announced a quarterly dividend on Wednesday, September 2nd. Stockholders of record on Monday, September 14th will be paid a dividend of 0.58 per share on Tuesday, September 29th. This represents a c) annualized dividend and a dividend yield of 8.9%. The ex-dividend date of this dividend is Monday, September 14th.

Virtus Equity & Convertible Income Fund Price Performance

Virtus Equity & Convertible Income Fund stock opened at $26.15 on Friday. Virtus Equity & Convertible Income Fund has a 1-year low of $22.78 and a 1-year high of $27.24. The business has a fifty day moving average price of $26.30 and a 200-day moving average price of $25.76.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE acquired a new position in shares of Virtus Equity & Convertible Income Fund during the third quarter valued at about $104,000. NewEdge Advisors LLC grew its position in Virtus Equity & Convertible Income Fund by 9.8% during the 1st quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock worth $153,000 after purchasing an additional 617 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its position in Virtus Equity & Convertible Income Fund by 338.1% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 6,655 shares of the company’s stock worth $166,000 after purchasing an additional 5,136 shares during the last quarter. Fifth Third Bancorp acquired a new position in Virtus Equity & Convertible Income Fund during the 1st quarter valued at approximately $189,000. Finally, Graves Light Lenhart Wealth Inc. acquired a new position in Virtus Equity & Convertible Income Fund during the 2nd quarter valued at approximately $211,000.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund (NYSE:NIE) is a diversified, closed-end management investment company designed to provide shareholders with a combination of current income and capital appreciation. The fund seeks to achieve its objectives by investing predominantly in convertible securities of U.S. and non-U.S. issuers alongside selected common stocks. Leveraging the hybrid characteristics of convertibles, the fund aims to capture income potential while maintaining exposure to equity market upside.

The fund’s investment strategy centers on a flexible allocation between fixed-income and equity components, with portfolio managers conducting rigorous credit and equity research to identify issuers offering attractive risk-reward profiles.