Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Down 17.1% in January

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large drop in short interest in January. As of January 30th, there was short interest totaling 20,806 shares, a drop of 17.1% from the January 15th total of 25,112 shares. Based on an average daily volume of 77,400 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 77,400 shares, the days-to-cover ratio is presently 0.3 days.

Virtus Equity & Convertible Income Fund Trading Up 0.5%

Virtus Equity & Convertible Income Fund stock traded up $0.14 during mid-day trading on Tuesday, reaching $25.32. The company had a trading volume of 32,789 shares, compared to its average volume of 61,900. The stock’s 50-day simple moving average is $25.30 and its 200-day simple moving average is $25.16. Virtus Equity & Convertible Income Fund has a 1 year low of $18.54 and a 1 year high of $26.00.

Virtus Equity & Convertible Income Fund Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Guggenheim Capital LLC boosted its position in shares of Virtus Equity & Convertible Income Fund by 14.0% in the 4th 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 in the last quarter. Cetera Investment Advisers raised its position in Virtus Equity & Convertible Income Fund by 13.0% during the fourth quarter. Cetera Investment Advisers now owns 24,948 shares of the company’s stock worth $622,000 after acquiring an additional 2,867 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Virtus Equity & Convertible Income Fund in the fourth quarter valued at about $253,000. &PARTNERS grew its position in shares of Virtus Equity & Convertible Income Fund by 119.7% in the fourth quarter. &PARTNERS now owns 51,997 shares of the company’s stock valued at $1,296,000 after purchasing an additional 28,335 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Virtus Equity & Convertible Income Fund by 2.0% during the 4th quarter. Royal Bank of Canada now owns 571,160 shares of the company’s stock worth $14,234,000 after purchasing an additional 11,079 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.