Short Interest in Virtus Equity & Convertible Income Fund (NYSE:NIE) Declines By 17.1%

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 20,806 shares, a decrease of 17.1% from the January 15th total of 25,112 shares. Based on an average daily volume of 77,400 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 77,400 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Several large investors have recently bought and sold shares of NIE. Saba Capital Management L.P. bought a new position in Virtus Equity & Convertible Income Fund during the 4th quarter valued at about $7,431,000. Wolverine Asset Management LLC raised its stake in Virtus Equity & Convertible Income Fund by 1,725.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 163,143 shares of the company’s stock valued at $3,899,000 after buying an additional 154,208 shares during the last quarter. Cornerstone Advisors LLC bought a new stake in shares of Virtus Equity & Convertible Income Fund in the second quarter worth $2,705,000. World Investment Advisors bought a new position in Virtus Equity & Convertible Income Fund in the third quarter valued at about $2,438,000. Finally, Evolve Private Wealth LLC purchased a new position in Virtus Equity & Convertible Income Fund in the fourth quarter worth about $2,028,000.

Virtus Equity & Convertible Income Fund Trading Up 0.7%

Shares of NYSE NIE traded up $0.17 during midday trading on Wednesday, hitting $25.48. The stock had a trading volume of 45,833 shares, compared to its average volume of 61,366. The business’s 50 day moving average is $25.30 and its 200-day moving average is $25.16. Virtus Equity & Convertible Income Fund has a 52 week low of $18.54 and a 52 week high of $26.00.

Virtus Equity & Convertible Income Fund Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, January 9th. Shareholders of record on Monday, December 29th were issued a $0.526 dividend. The ex-dividend date of this dividend was Monday, December 29th.

Virtus Equity & Convertible Income Fund Company Profile

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.