Virtus Equity & Convertible Income Fund (NYSE:NIE) Announces Special Dividend of $0.53

Virtus Equity & Convertible Income Fund (NYSE:NIE) declared a special dividend on Friday, December 19th. Shareholders of record on Monday, December 29th will be given a dividend of 0.526 per share on Friday, January 9th. The ex-dividend date is Monday, December 29th.

Virtus Equity & Convertible Income Fund Price Performance

NIE stock opened at $25.52 on Friday. Virtus Equity & Convertible Income Fund has a 12 month low of $18.54 and a 12 month high of $26.00. The firm has a 50-day moving average price of $25.34 and a 200-day moving average price of $24.71.

Institutional Trading of Virtus Equity & Convertible Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in shares of Virtus Equity & Convertible Income Fund by 13.8% during the first quarter. Royal Bank of Canada now owns 559,567 shares of the company’s stock worth $12,383,000 after buying an additional 67,801 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Virtus Equity & Convertible Income Fund by 2.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 395,993 shares of the company’s stock worth $10,046,000 after purchasing an additional 10,453 shares in the last quarter. Cornerstone Advisors LLC raised its position in Virtus Equity & Convertible Income Fund by 97.9% in the third quarter. Cornerstone Advisors LLC now owns 223,985 shares of the company’s stock valued at $5,624,000 after purchasing an additional 110,794 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in shares of Virtus Equity & Convertible Income Fund by 1.1% during the third quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 213,709 shares of the company’s stock valued at $5,366,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in shares of Virtus Equity & Convertible Income Fund by 1.4% during the third quarter. Wolverine Asset Management LLC now owns 165,473 shares of the company’s stock valued at $4,155,000 after purchasing an additional 2,330 shares in the last quarter.

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.