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

Virtus Equity & Convertible Income Fund (NYSE:NIE) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 18,974 shares, a decrease of 36.3% from the July 15th total of 29,784 shares. Based on an average daily trading volume, of 54,200 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several hedge funds have recently modified their holdings of NIE. NewEdge Advisors LLC grew its position in shares of Virtus Equity & Convertible Income Fund by 9.8% in 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 last quarter. Walleye Capital LLC purchased a new stake in Virtus Equity & Convertible Income Fund during the second quarter valued at approximately $235,000. Ameriprise Financial Inc. lifted its position in Virtus Equity & Convertible Income Fund by 10.6% during the second quarter. Ameriprise Financial Inc. now owns 35,473 shares of the company’s stock valued at $848,000 after acquiring an additional 3,399 shares during the last quarter. US Bancorp DE purchased a new stake in Virtus Equity & Convertible Income Fund during the third quarter valued at approximately $104,000. Finally, Calamos Advisors LLC boosted its stake in Virtus Equity & Convertible Income Fund by 159.9% in the fourth quarter. Calamos Advisors LLC now owns 42,188 shares of the company’s stock valued at $1,051,000 after acquiring an additional 25,955 shares in the last quarter.

Virtus Equity & Convertible Income Fund Trading Down 0.9%

Shares of NYSE:NIE traded down $0.23 on Tuesday, reaching $26.55. The company had a trading volume of 51,719 shares, compared to its average volume of 61,370. Virtus Equity & Convertible Income Fund has a 52-week low of $22.78 and a 52-week high of $27.24. The firm’s 50 day simple moving average is $26.38 and its 200-day simple moving average is $25.70.

Virtus Equity & Convertible Income Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 8.7%. This is a boost from Virtus Equity & Convertible Income Fund’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, June 15th.

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.