Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Update

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 49,768 shares, an increase of 817.4% from the August 31st total of 5,425 shares. Based on an average daily trading volume, of 79,810 shares, the short-interest ratio is currently 0.6 days.

Virtus Equity & Convertible Income Fund Stock Down 1.1%

NYSE:NIE traded down $0.29 during mid-day trading on Thursday, reaching $25.12. 83,411 shares of the company were exchanged, compared to its average volume of 62,270. Virtus Equity & Convertible Income Fund has a 12 month low of $22.78 and a 12 month high of $27.24. The company has a fifty day moving average of $25.99 and a 200 day moving average of $25.78.

Virtus Equity & Convertible Income Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Monday, September 14th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Blue Bell Private Wealth Management LLC lifted its holdings in Virtus Equity & Convertible Income Fund by 338.1% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 6,655 shares of the company’s stock worth $166,000 after buying an additional 5,136 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Virtus Equity & Convertible Income Fund in the 1st quarter valued at $189,000. Graves Light Lenhart Wealth Inc. bought a new stake in shares of Virtus Equity & Convertible Income Fund during the second quarter worth $211,000. Silverlake Wealth Management LLC bought a new stake in shares of Virtus Equity & Convertible Income Fund during the second quarter worth $219,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Virtus Equity & Convertible Income Fund by 9.3% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,362 shares of the company’s stock valued at $251,000 after acquiring an additional 794 shares during the period.

Virtus Equity & Convertible Income Fund Company Profile

Virtus Equity & Convertible Income Fund is a publicly traded, non-diversified closed-end investment fund listed on the New York Stock Exchange under the symbol NIE. The fund is designed to provide investors with a combination of current income and long-term capital appreciation.

The fund invests primarily in a portfolio of equity securities and convertible securities. Its holdings may include common stocks, preferred stocks, convertible bonds and other securities that provide exposure to companies across a range of industries.