Virtus Convertible & Income Fund II (NYSE:NCZ) Sees Significant Decline in Short Interest

Virtus Convertible & Income Fund II (NYSE:NCZ) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 28,362 shares, a decline of 64.2% from the July 15th total of 79,132 shares. Based on an average trading volume of 87,055 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Virtus Convertible & Income Fund II

A number of hedge funds have recently made changes to their positions in NCZ. Readystate Asset Management LP increased its stake in shares of Virtus Convertible & Income Fund II by 77.8% in the first quarter. Readystate Asset Management LP now owns 22,422 shares of the investment management company’s stock worth $301,000 after buying an additional 9,808 shares during the last quarter. Saba Capital Management L.P. bought a new position in Virtus Convertible & Income Fund II during the 1st quarter valued at $4,717,000. Walled Lake Planning & Wealth Management LLC acquired a new position in Virtus Convertible & Income Fund II during the 1st quarter worth $213,000. Kestra Advisory Services LLC grew its holdings in Virtus Convertible & Income Fund II by 2.1% during the 1st quarter. Kestra Advisory Services LLC now owns 44,187 shares of the investment management company’s stock worth $593,000 after acquiring an additional 915 shares in the last quarter. Finally, PFG Investments LLC increased its position in shares of Virtus Convertible & Income Fund II by 19.5% in the 1st quarter. PFG Investments LLC now owns 13,610 shares of the investment management company’s stock worth $183,000 after purchasing an additional 2,220 shares during the last quarter.

Virtus Convertible & Income Fund II Trading Down 0.8%

NCZ traded down $0.13 on Friday, reaching $15.96. The company’s stock had a trading volume of 11,102 shares, compared to its average volume of 73,941. Virtus Convertible & Income Fund II has a 1 year low of $12.95 and a 1 year high of $16.17. The business’s 50 day moving average is $15.55 and its 200 day moving average is $15.00.

Virtus Convertible & Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 13th will be given a $0.12 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend is Thursday, August 13th.

About Virtus Convertible & Income Fund II

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.