Virtus Convertible & Income Fund (NYSE:NCV) Stock Short Interest Climbs 115.5%

Virtus Convertible & Income Fund (NYSE:NCV) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 23,037 shares, a growth of 115.5% from the September 30th total of 10,688 shares. Based on an average daily volume of 101,929 shares, the short-interest ratio is presently 0.2 days.

Virtus Convertible & Income Fund Trading Down 2.5%

Shares of NYSE NCV traded down $0.38 during midday trading on Friday, hitting $15.14. The company’s stock had a trading volume of 88,316 shares, compared to its average volume of 89,011. The business’s fifty day simple moving average is $15.66 and its two-hundred day simple moving average is $16.29. Virtus Convertible & Income Fund has a 1 year low of $14.46 and a 1 year high of $17.65.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.1360 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 10.8%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Bell Private Wealth Management LLC grew its stake in Virtus Convertible & Income Fund by 14.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 47,686 shares of the investment management company’s stock worth $721,000 after purchasing an additional 6,023 shares in the last quarter. Choreo LLC increased its holdings in Virtus Convertible & Income Fund by 17.6% during the 3rd quarter. Choreo LLC now owns 39,421 shares of the investment management company’s stock worth $596,000 after purchasing an additional 5,900 shares during the period. Shaker Financial Services LLC raised its position in Virtus Convertible & Income Fund by 595.1% in the 3rd quarter. Shaker Financial Services LLC now owns 74,464 shares of the investment management company’s stock valued at $1,125,000 after purchasing an additional 63,752 shares in the last quarter. CoreCap Advisors LLC raised its position in Virtus Convertible & Income Fund by 17.4% in the 3rd quarter. CoreCap Advisors LLC now owns 85,343 shares of the investment management company’s stock valued at $1,290,000 after purchasing an additional 12,668 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Virtus Convertible & Income Fund in the 2nd quarter valued at about $82,000.

About Virtus Convertible & Income Fund

Virtus Convertible & Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol NCV. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in a diversified portfolio of convertible securities and other income-producing investments.

Its portfolio may include convertible bonds, convertible preferred stocks, corporate bonds and other debt instruments. Convertible securities generally combine income features associated with fixed-income investments with the potential to participate in the equity performance of the issuing company.