Short Interest in Virtus Equity & Convertible Income Fund (NYSE:NIE) Drops By 81.2%

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 5,893 shares, a decrease of 81.2% from the March 31st total of 31,338 shares. Based on an average daily trading volume, of 75,152 shares, the days-to-cover ratio is presently 0.1 days.

Virtus Equity & Convertible Income Fund Stock Performance

NYSE:NIE traded up $0.37 during trading hours on Friday, hitting $25.89. The company’s stock had a trading volume of 97,711 shares, compared to its average volume of 62,355. The stock has a fifty day moving average of $24.63 and a 200-day moving average of $25.10. Virtus Equity & Convertible Income Fund has a 52-week low of $21.40 and a 52-week high of $26.00.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Monday, March 16th.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Several large investors have recently bought and sold shares of the business. OxenFree Capital LLC increased its holdings in Virtus Equity & Convertible Income Fund by 1.0% in the fourth quarter. OxenFree Capital LLC now owns 56,643 shares of the company’s stock valued at $1,412,000 after buying an additional 556 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Virtus Equity & Convertible Income Fund by 9.8% in the first quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock valued at $153,000 after buying an additional 617 shares during the last quarter. Stolper Co increased its holdings in Virtus Equity & Convertible Income Fund by 2.3% in the fourth quarter. Stolper Co now owns 32,642 shares of the company’s stock valued at $813,000 after buying an additional 719 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Virtus Equity & Convertible Income Fund by 3.5% in the fourth quarter. Cornerstone Wealth Management LLC now owns 26,412 shares of the company’s stock valued at $658,000 after buying an additional 886 shares during the last quarter. Finally, CWM LLC increased its holdings in Virtus Equity & Convertible Income Fund by 73.3% in the third quarter. CWM LLC now owns 3,327 shares of the company’s stock valued at $84,000 after buying an additional 1,407 shares during the last quarter.

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.