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

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 22,400 shares, an increase of 86.7% from the May 15th total of 12,000 shares. Based on an average daily volume of 68,600 shares, the days-to-cover ratio is currently 0.3 days.

Virtus Equity & Convertible Income Fund Stock Performance

Shares of NIE stock traded up $0.22 during mid-day trading on Monday, reaching $23.07. The company’s stock had a trading volume of 35,432 shares, compared to its average volume of 64,483. The company’s 50 day simple moving average is $22.29 and its 200-day simple moving average is $23.34. Virtus Equity & Convertible Income Fund has a 12-month low of $18.54 and a 12-month high of $25.44.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Truist Financial Corp lifted its holdings in Virtus Equity & Convertible Income Fund by 9.9% in the 4th quarter. Truist Financial Corp now owns 21,817 shares of the company’s stock worth $538,000 after buying an additional 1,966 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Virtus Equity & Convertible Income Fund by 6.1% in the fourth quarter. D.A. Davidson & CO. now owns 25,340 shares of the company’s stock valued at $625,000 after purchasing an additional 1,450 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of Virtus Equity & Convertible Income Fund in the fourth quarter valued at approximately $435,000. Raymond James Financial Inc. bought a new stake in Virtus Equity & Convertible Income Fund during the fourth quarter worth approximately $13,117,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Virtus Equity & Convertible Income Fund in the 4th quarter worth approximately $214,000.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.