Virtus Equity & Convertible Income Fund (NIE) to Issue Quarterly Dividend of $0.58 on September 29th

Virtus Equity & Convertible Income Fund (NYSE:NIE) announced a quarterly dividend on Wednesday, September 2nd. Investors of record on Monday, September 14th will be paid a dividend of 0.58 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Monday, September 14th.

Virtus Equity & Convertible Income Fund Price Performance

Shares of Virtus Equity & Convertible Income Fund stock opened at $25.98 on Friday. Virtus Equity & Convertible Income Fund has a 52 week low of $22.78 and a 52 week high of $27.24. The stock has a 50 day moving average price of $26.23 and a two-hundred day moving average price of $25.79.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Several large investors have recently added to or reduced their stakes in the business. Saba Capital Management L.P. bought a new stake in Virtus Equity & Convertible Income Fund in the 4th quarter worth about $7,431,000. Bank of America Corp DE purchased a new stake in shares of Virtus Equity & Convertible Income Fund during the 2nd quarter valued at $3,272,000. Evolve Private Wealth LLC purchased a new position in shares of Virtus Equity & Convertible Income Fund in the 4th quarter worth about $2,028,000. Guggenheim Capital LLC increased its holdings in Virtus Equity & Convertible Income Fund by 14.0% during the fourth quarter. Guggenheim Capital LLC now owns 479,040 shares of the company’s stock worth $11,938,000 after buying an additional 58,661 shares during the last quarter. Finally, LPL Financial LLC raised its position in Virtus Equity & Convertible Income Fund by 26.7% in the fourth quarter. LPL Financial LLC now owns 269,945 shares of the company’s stock worth $6,727,000 after acquiring an additional 56,895 shares during the period.

About Virtus Equity & Convertible Income Fund

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.