Virtus Convertible & Income Fund (NYSE:NCV) Short Interest Up 164.1% in August

Virtus Convertible & Income Fund (NYSE:NCV) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 17,091 shares, a growth of 164.1% from the August 15th total of 6,471 shares. Based on an average daily trading volume, of 43,072 shares, the short-interest ratio is presently 0.4 days.

Virtus Convertible & Income Fund Stock Down 0.6%

Shares of Virtus Convertible & Income Fund stock traded down $0.10 during trading hours on Tuesday, reaching $15.78. 18,156 shares of the company were exchanged, compared to its average volume of 89,155. Virtus Convertible & Income Fund has a 1 year low of $14.46 and a 1 year high of $17.65. The stock’s fifty day moving average is $16.77 and its 200 day moving average is $16.59.

Virtus Convertible & Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.136 per share. The ex-dividend date is Thursday, November 12th. This represents a c) annualized dividend and a yield of 10.3%.

Hedge Funds Weigh In On Virtus Convertible & Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its holdings in shares of Virtus Convertible & Income Fund by 20.0% in the 2nd quarter. NewEdge Advisors LLC now owns 85,040 shares of the investment management company’s stock valued at $1,496,000 after purchasing an additional 14,199 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of Virtus Convertible & Income Fund during the second quarter worth $29,000. CoreCap Advisors LLC increased its holdings in Virtus Convertible & Income Fund by 6.6% in the second quarter. CoreCap Advisors LLC now owns 72,675 shares of the investment management company’s stock valued at $1,278,000 after buying an additional 4,475 shares during the last quarter. Readystate Asset Management LP increased its holdings in Virtus Convertible & Income Fund by 39.5% in the first quarter. Readystate Asset Management LP now owns 36,738 shares of the investment management company’s stock valued at $547,000 after buying an additional 10,403 shares during the last quarter. Finally, Saba Capital Management L.P. raised its stake in Virtus Convertible & Income Fund by 373.3% in the first quarter. Saba Capital Management L.P. now owns 723,578 shares of the investment management company’s stock valued at $10,767,000 after buying an additional 570,704 shares in the last quarter.

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.