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

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 57,085 shares, a growth of 75.7% from the December 15th total of 32,496 shares. Based on an average daily volume of 68,809 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 68,809 shares, the days-to-cover ratio is presently 0.8 days.

Virtus Equity & Convertible Income Fund Price Performance

Shares of Virtus Equity & Convertible Income Fund stock traded up $0.02 during trading hours on Friday, hitting $25.43. The company’s stock had a trading volume of 40,691 shares, compared to its average volume of 61,717. Virtus Equity & Convertible Income Fund has a 1-year low of $18.54 and a 1-year high of $26.00. The business has a fifty day moving average of $25.26 and a 200 day moving average of $24.92.

Virtus Equity & Convertible Income Fund Announces Dividend

The company also recently disclosed a special dividend, which was paid on Friday, January 9th. Shareholders of record on Monday, December 29th were paid a dividend of $0.526 per share. The ex-dividend date was Monday, December 29th.

Institutional Trading of Virtus Equity & Convertible Income Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Bell Private Wealth Management LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 3rd quarter worth $38,000. Westfuller Advisors LLC acquired a new position in shares of Virtus Equity & Convertible Income Fund in the 3rd quarter valued at $53,000. CWM LLC increased its stake in Virtus Equity & Convertible Income Fund by 73.3% in the 3rd quarter. CWM LLC now owns 3,327 shares of the company’s stock worth $84,000 after purchasing an additional 1,407 shares in the last quarter. US Bancorp DE purchased a new position in Virtus Equity & Convertible Income Fund in the 3rd quarter worth about $104,000. Finally, NewEdge Advisors LLC raised its holdings in Virtus Equity & Convertible Income Fund by 9.8% during the 1st quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock worth $153,000 after buying an additional 617 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.