Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Expands By 64.8%

Virtus Convertible & Income Fund (NYSE:NCV) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 41,747 shares, an increase of 64.8% from the February 26th total of 25,332 shares. Based on an average daily trading volume, of 126,800 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Virtus Convertible & Income Fund

Several institutional investors and hedge funds have recently modified their holdings of NCV. Thomas J. Herzfeld Advisors Inc. purchased a new position in Virtus Convertible & Income Fund in the 4th quarter valued at about $2,641,000. Guggenheim Capital LLC lifted its stake in shares of Virtus Convertible & Income Fund by 70.3% in the fourth quarter. Guggenheim Capital LLC now owns 337,948 shares of the investment management company’s stock worth $5,120,000 after acquiring an additional 139,536 shares in the last quarter. Saba Capital Management L.P. lifted its stake in shares of Virtus Convertible & Income Fund by 374.1% in the fourth quarter. Saba Capital Management L.P. now owns 152,874 shares of the investment management company’s stock worth $2,316,000 after acquiring an additional 120,630 shares in the last quarter. Congress Park Capital LLC boosted its holdings in Virtus Convertible & Income Fund by 16.0% in the fourth quarter. Congress Park Capital LLC now owns 735,137 shares of the investment management company’s stock valued at $11,137,000 after purchasing an additional 101,287 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Virtus Convertible & Income Fund during the 3rd quarter worth approximately $1,312,000.

Virtus Convertible & Income Fund Stock Down 2.0%

NCV stock traded down $0.31 during midday trading on Friday, hitting $14.60. The stock had a trading volume of 120,930 shares, compared to its average volume of 113,526. Virtus Convertible & Income Fund has a 12-month low of $11.51 and a 12-month high of $16.70. The company’s 50-day moving average price is $15.84 and its 200 day moving average price is $15.50.

Virtus Convertible & Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 11th will be issued a dividend of $0.136 per share. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 11.2%.

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.