Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Expands By 73.6%

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 79,231 shares, a growth of 73.6% from the May 14th total of 45,628 shares. Based on an average daily volume of 88,470 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Trading of Virtus Convertible & Income Fund

Hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp acquired a new stake in Virtus Convertible & Income Fund during the first quarter worth approximately $46,000. Global Retirement Partners LLC boosted its position in Virtus Convertible & Income Fund by 372.7% during the fourth quarter. Global Retirement Partners LLC now owns 8,404 shares of the investment management company’s stock worth $127,000 after acquiring an additional 6,626 shares during the last quarter. Jane Street Group LLC acquired a new stake in Virtus Convertible & Income Fund during the second quarter worth approximately $155,000. Alteri Wealth LLC boosted its position in Virtus Convertible & Income Fund by 9.1% during the fourth quarter. Alteri Wealth LLC now owns 11,326 shares of the investment management company’s stock worth $172,000 after acquiring an additional 946 shares during the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new stake in Virtus Convertible & Income Fund during the fourth quarter worth approximately $179,000.

Virtus Convertible & Income Fund Stock Up 0.5%

Shares of NCV stock traded up $0.08 during trading hours on Tuesday, hitting $17.32. The company’s stock had a trading volume of 48,782 shares, compared to its average volume of 100,411. The business has a fifty day moving average of $16.84 and a 200-day moving average of $16.05. Virtus Convertible & Income Fund has a twelve month low of $13.45 and a twelve month high of $17.60.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be given a $0.136 dividend. 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.