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

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 16,900 shares, a decline of 26.2% from the February 28th total of 22,900 shares. Based on an average daily volume of 62,400 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC increased its stake in shares of Virtus Equity & Convertible Income Fund by 32,400.0% in the 4th quarter. CoreCap Advisors LLC now owns 1,300 shares of the company’s stock worth $32,000 after purchasing an additional 1,296 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Virtus Equity & Convertible Income Fund in the fourth quarter worth about $42,000. JPMorgan Chase & Co. raised its stake in shares of Virtus Equity & Convertible Income Fund by 29.1% in the third quarter. JPMorgan Chase & Co. now owns 2,881 shares of the company’s stock worth $66,000 after buying an additional 650 shares during the period. Silverlake Wealth Management LLC purchased a new position in shares of Virtus Equity & Convertible Income Fund during the 4th quarter valued at about $201,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Virtus Equity & Convertible Income Fund during the 4th quarter valued at about $214,000.

Virtus Equity & Convertible Income Fund Price Performance

Shares of NYSE NIE traded up $0.07 during midday trading on Tuesday, hitting $22.20. 74,696 shares of the company’s stock traded hands, compared to its average volume of 64,035. The firm has a fifty day moving average of $23.83 and a 200 day moving average of $23.82. Virtus Equity & Convertible Income Fund has a 1 year low of $20.75 and a 1 year high of $25.44.

Virtus Equity & Convertible Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $2.00 dividend on an annualized basis and a yield of 9.01%.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in the public equity markets of the United States. The fund invests in stocks of companies operating across diversified sectors.