Twelve Points Wealth Management LLC Lowers Position in Virtus Convertible & Income Fund II (NYSE:NCZ)

Twelve Points Wealth Management LLC cut its holdings in Virtus Convertible & Income Fund II (NYSE:NCZ) by 75.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,093 shares of the investment management company’s stock after selling 149,383 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Virtus Convertible & Income Fund II were worth $556,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NCZ. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Virtus Convertible & Income Fund II during the fourth quarter valued at about $26,000. Jane Street Group LLC acquired a new position in shares of Virtus Convertible & Income Fund II during the fourth quarter valued at about $32,000. Walleye Capital LLC acquired a new position in shares of Virtus Convertible & Income Fund II during the fourth quarter valued at about $50,000. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Virtus Convertible & Income Fund II by 6.0% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 22,721 shares of the investment management company’s stock valued at $71,000 after acquiring an additional 1,291 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Virtus Convertible & Income Fund II during the first quarter valued at about $139,000.

Virtus Convertible & Income Fund II Stock Performance

NCZ opened at $12.78 on Wednesday. Virtus Convertible & Income Fund II has a 52-week low of $10.23 and a 52-week high of $13.44. The firm’s 50-day moving average price is $12.27 and its 200-day moving average price is $12.21.

Virtus Convertible & Income Fund II Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, July 14th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a yield of 11.21%.

Virtus Convertible & Income Fund II Company Profile

Virtus Convertible & Income Fund II is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.