351,755 Shares in Virtus Convertible & Income Fund II $NCZ Acquired by Saba Capital Management L.P.

Saba Capital Management L.P. acquired a new position in shares of Virtus Convertible & Income Fund II (NYSE:NCZ) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 351,755 shares of the investment management company’s stock, valued at approximately $4,717,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC lifted its position in shares of Virtus Convertible & Income Fund II by 4,943.6% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 7,515 shares of the investment management company’s stock valued at $104,000 after acquiring an additional 7,366 shares during the period. Global Retirement Partners LLC acquired a new position in Virtus Convertible & Income Fund II in the fourth quarter valued at about $131,000. CoreCap Advisors LLC raised its stake in Virtus Convertible & Income Fund II by 10.1% in the fourth quarter. CoreCap Advisors LLC now owns 10,530 shares of the investment management company’s stock valued at $145,000 after purchasing an additional 969 shares in the last quarter. PFG Investments LLC grew its stake in Virtus Convertible & Income Fund II by 8.9% during the fourth quarter. PFG Investments LLC now owns 11,390 shares of the investment management company’s stock worth $157,000 after buying an additional 927 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new stake in Virtus Convertible & Income Fund II during the fourth quarter worth about $174,000.

Virtus Convertible & Income Fund II Price Performance

NCZ stock opened at $15.15 on Tuesday. The company’s 50-day moving average price is $15.54 and its two-hundred day moving average price is $14.88. Virtus Convertible & Income Fund II has a 12 month low of $12.94 and a 12 month high of $16.00.

Virtus Convertible & Income Fund II Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 28th. Investors of record on Thursday, August 13th will be paid a $0.12 dividend. This represents a c) dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend is Thursday, August 13th.

Virtus Convertible & Income Fund II Profile

Virtus Convertible & Income Fund II (NYSE: NCZ) is a diversified, closed‐end management investment company that seeks to provide shareholders with a combination of current income and capital appreciation. The fund primarily invests in convertible securities issued by U.S. and non-U.S. companies, along with a mix of high‐yield and investment-grade fixed-income instruments. By blending exposure to equity-linked convertibles and traditional debt, NCZ aims to deliver enhanced returns across varying market environments.

The portfolio is actively managed by the Virtus Convertible & Income Portfolio Management Team, a group of seasoned investment professionals affiliated with Virtus Investment Partners.