Virtus Equity & Convertible Income Fund (NYSE:NIE) Short Interest Up 18.4% in September

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 5,800 shares, a growth of 18.4% from the August 31st total of 4,900 shares. Based on an average daily volume of 68,800 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in Virtus Equity & Convertible Income Fund in the 2nd quarter worth approximately $1,772,000. B. Riley Wealth Advisors Inc. increased its holdings in Virtus Equity & Convertible Income Fund by 8.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 80,866 shares of the company’s stock worth $1,879,000 after acquiring an additional 6,128 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Virtus Equity & Convertible Income Fund by 451.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,828 shares of the company’s stock worth $275,000 after acquiring an additional 9,682 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in Virtus Equity & Convertible Income Fund in the 2nd quarter worth approximately $27,000. Finally, PFG Investments LLC purchased a new stake in Virtus Equity & Convertible Income Fund in the 2nd quarter worth approximately $327,000.

Virtus Equity & Convertible Income Fund Price Performance

Shares of NYSE:NIE traded up $0.02 during trading on Monday, hitting $23.01. The company’s stock had a trading volume of 66,259 shares, compared to its average volume of 68,259. The company has a 50-day moving average of $22.43 and a 200-day moving average of $22.48. Virtus Equity & Convertible Income Fund has a 12 month low of $18.61 and a 12 month high of $23.88.

Virtus Equity & Convertible Income Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 13th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 8.69%. The ex-dividend date of this dividend was Friday, September 13th.

Virtus Equity & Convertible Income Fund Company Profile

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.