Short Interest in Virtus Convertible & Income Fund (NYSE:NCV) Declines By 64.4%

Virtus Convertible & Income Fund (NYSE:NCV) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 6,471 shares, a decline of 64.4% from the July 30th total of 18,154 shares. Based on an average trading volume of 56,550 shares, the days-to-cover ratio is currently 0.1 days.

Virtus Convertible & Income Fund Price Performance

NCV traded down $0.15 on Friday, hitting $16.62. 39,671 shares of the company’s stock were exchanged, compared to its average volume of 90,840. The stock has a fifty day moving average of $17.00 and a two-hundred day moving average of $16.59. Virtus Convertible & Income Fund has a twelve month low of $14.46 and a twelve month high of $17.65.

Virtus Convertible & Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, August 28th. Stockholders of record on Thursday, August 13th were given a dividend of $0.136 per share. The ex-dividend date was Thursday, August 13th. This represents a c) annualized dividend and a dividend yield of 9.8%.

Institutional Trading of Virtus Convertible & Income Fund

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. increased its position in Virtus Convertible & Income Fund by 3.2% in the 2nd quarter. Raymond James Financial Inc. now owns 78,137 shares of the investment management company’s stock valued at $1,110,000 after acquiring an additional 2,388 shares during the period. Jane Street Group LLC bought a new position in shares of Virtus Convertible & Income Fund in the second quarter worth $155,000. Private Advisor Group LLC grew its stake in shares of Virtus Convertible & Income Fund by 45.3% in the third quarter. Private Advisor Group LLC now owns 118,102 shares of the investment management company’s stock worth $1,772,000 after purchasing an additional 36,843 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Virtus Convertible & Income Fund by 1.0% during the third quarter. Bank of America Corp DE now owns 263,876 shares of the investment management company’s stock valued at $3,958,000 after purchasing an additional 2,669 shares during the period. Finally, Susquehanna International Group LLP increased its holdings in shares of Virtus Convertible & Income Fund by 83.3% during the third quarter. Susquehanna International Group LLP now owns 22,803 shares of the investment management company’s stock valued at $342,000 after purchasing an additional 10,366 shares during the period.

About Virtus Convertible & Income Fund

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.