Virtus Equity & Convertible Income Fund (NYSE:NIE) Stock Price Down 0.2% – Here’s What Happened

Virtus Equity & Convertible Income Fund (NYSE:NIE)’s stock price traded down 0.2% on Thursday . The stock traded as low as $24.34 and last traded at $24.39. 45,366 shares were traded during mid-day trading, a decline of 31% from the average session volume of 65,664 shares. The stock had previously closed at $24.43.

Virtus Equity & Convertible Income Fund Stock Performance

The company’s 50 day moving average is $23.82 and its 200-day moving average is $23.09.

Virtus Equity & Convertible Income Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 12th. This represents a $2.00 annualized dividend and a yield of 8.20%.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Several large investors have recently added to or reduced their stakes in the business. Luken Investment Analytics LLC purchased a new stake in Virtus Equity & Convertible Income Fund during the second quarter worth about $27,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Virtus Equity & Convertible Income Fund by 451.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,828 shares of the company’s stock valued at $275,000 after acquiring an additional 9,682 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Virtus Equity & Convertible Income Fund during the 3rd quarter worth approximately $275,000. International Assets Investment Management LLC raised its holdings in shares of Virtus Equity & Convertible Income Fund by 7.4% in the 2nd quarter. International Assets Investment Management LLC now owns 13,345 shares of the company’s stock worth $310,000 after purchasing an additional 925 shares during the period. Finally, PFG Investments LLC purchased a new position in Virtus Equity & Convertible Income Fund in the second quarter valued at approximately $327,000.

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.