Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Down 56.0% in January

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 25,112 shares, a drop of 56.0% from the December 31st total of 57,085 shares. Based on an average daily trading volume, of 63,857 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 63,857 shares, the days-to-cover ratio is presently 0.4 days.

Virtus Equity & Convertible Income Fund Price Performance

NYSE:NIE traded down $0.08 during trading hours on Thursday, hitting $25.54. 76,000 shares of the stock traded hands, compared to its average volume of 70,468. Virtus Equity & Convertible Income Fund has a 1 year low of $18.54 and a 1 year high of $26.00. The stock has a 50 day moving average price of $25.30 and a 200 day moving average price of $25.02.

Virtus Equity & Convertible Income Fund Announces Dividend

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

Institutional Trading of Virtus Equity & Convertible Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in NIE. Wolverine Asset Management LLC grew its holdings in Virtus Equity & Convertible Income Fund by 1,725.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 163,143 shares of the company’s stock valued at $3,899,000 after buying an additional 154,208 shares in the last quarter. Cornerstone Advisors LLC bought a new position in shares of Virtus Equity & Convertible Income Fund during the 2nd quarter valued at about $2,705,000. World Investment Advisors purchased a new stake in shares of Virtus Equity & Convertible Income Fund in the third quarter worth about $2,438,000. D.A. Davidson & CO. boosted its stake in Virtus Equity & Convertible Income Fund by 175.4% during the third quarter. D.A. Davidson & CO. now owns 70,450 shares of the company’s stock valued at $1,769,000 after buying an additional 44,871 shares during the last quarter. Finally, Shaker Financial Services LLC grew its holdings in Virtus Equity & Convertible Income Fund by 59.6% during the 2nd quarter. Shaker Financial Services LLC now owns 101,493 shares of the company’s stock valued at $2,426,000 after buying an additional 37,911 shares in 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.