Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Grows By 625.8%

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 55,080 shares, an increase of 625.8% from the December 31st total of 7,589 shares. Based on an average daily volume of 130,839 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 130,839 shares, the short-interest ratio is currently 0.4 days.

Virtus Convertible & Income Fund Stock Performance

Shares of NCV traded up $0.15 during midday trading on Wednesday, hitting $16.17. 144,465 shares of the company’s stock traded hands, compared to its average volume of 144,909. Virtus Convertible & Income Fund has a 1 year low of $11.51 and a 1 year high of $16.19. The firm’s fifty day moving average is $15.42 and its 200-day moving average is $15.10.

Virtus Convertible & Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Thursday, February 12th will be issued a $0.136 dividend. This represents a c) annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend is Thursday, February 12th.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC boosted its stake in Virtus Convertible & Income Fund by 649.9% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 6,749 shares of the investment management company’s stock worth $101,000 after purchasing an additional 5,849 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Virtus Convertible & Income Fund in the second quarter worth $155,000. CoreCap Advisors LLC lifted its stake in shares of Virtus Convertible & Income Fund by 11.1% during the fourth quarter. CoreCap Advisors LLC now owns 16,005 shares of the investment management company’s stock worth $242,000 after buying an additional 1,600 shares during the period. Good Life Advisors LLC purchased a new stake in shares of Virtus Convertible & Income Fund during the second quarter valued at $278,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Virtus Convertible & Income Fund in the 2nd quarter valued at $287,000.

Virtus Convertible & Income Fund Company Profile

Virtus Convertible & Income Fund Inc (NYSE: NCV) is a diversified, closed-end management investment company sponsored by Virtus Investment Partners. Listed on the New York Stock Exchange, the fund seeks to deliver a high level of total return by investing primarily in convertible securities and other income-oriented instruments. It pursues a balanced approach that combines elements of equity growth potential with fixed-income stability, aiming to appeal to investors focused on current income and long-term capital appreciation.

The fund’s portfolio is constructed predominantly of convertible bonds issued by U.S.