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

Virtus Convertible & Income Fund II (NYSE:NCZ) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 87,511 shares, an increase of 208.6% from the July 30th total of 28,362 shares. Based on an average trading volume of 62,671 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Trading of Virtus Convertible & Income Fund II

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in shares of Virtus Convertible & Income Fund II by 18.4% during the 2nd quarter. Invesco Ltd. now owns 97,958 shares of the investment management company’s stock valued at $1,258,000 after acquiring an additional 15,243 shares in the last quarter. Prevail Innovative Wealth Advisors LLC boosted its holdings in Virtus Convertible & Income Fund II by 14.7% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 99,500 shares of the investment management company’s stock valued at $1,278,000 after acquiring an additional 12,777 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Virtus Convertible & Income Fund II by 33.0% during the third quarter. Private Advisor Group LLC now owns 51,252 shares of the investment management company’s stock worth $701,000 after buying an additional 12,728 shares during the period. Raymond James Financial Inc. grew its holdings in Virtus Convertible & Income Fund II by 9.2% during the 3rd quarter. Raymond James Financial Inc. now owns 58,595 shares of the investment management company’s stock worth $802,000 after acquiring an additional 4,954 shares during the period. Finally, Bank of America Corp DE grew its stake in Virtus Convertible & Income Fund II by 94.2% during the third quarter. Bank of America Corp DE now owns 125,244 shares of the investment management company’s stock worth $1,713,000 after purchasing an additional 60,736 shares during the period.

Virtus Convertible & Income Fund II Trading Up 1.4%

NCZ traded up $0.22 on Thursday, hitting $15.66. 38,575 shares of the stock were exchanged, compared to its average volume of 72,279. The business has a 50-day moving average of $15.58 and a two-hundred day moving average of $15.08. Virtus Convertible & Income Fund II has a 12 month low of $12.95 and a 12 month high of $16.17.

Virtus Convertible & Income Fund II Announces Dividend

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 paid a dividend of $0.12 per share. The ex-dividend date is Thursday, August 13th. This represents a c) annualized dividend and a yield of 9.2%.

Virtus Convertible & Income Fund II Company 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.