KPP Advisory Services LLC Sells 5,245 Shares of Virtus Convertible & Income Fund II (NYSE:NCZ)

KPP Advisory Services LLC cut its stake in shares of Virtus Convertible & Income Fund II (NYSE:NCZ) by 26.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,352 shares of the investment management company’s stock after selling 5,245 shares during the period. KPP Advisory Services LLC’s holdings in Virtus Convertible & Income Fund II were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NCZ. Park Avenue Securities LLC increased its position in shares of Virtus Convertible & Income Fund II by 3.5% in the first quarter. Park Avenue Securities LLC now owns 440,606 shares of the investment management company’s stock worth $1,317,000 after purchasing an additional 14,886 shares during the last quarter. Integrated Capital Management Inc. increased its position in shares of Virtus Convertible & Income Fund II by 6.6% in the first quarter. Integrated Capital Management Inc. now owns 64,684 shares of the investment management company’s stock worth $193,000 after purchasing an additional 3,991 shares during the last quarter. Congress Park Capital LLC increased its position in shares of Virtus Convertible & Income Fund II by 7.6% in the first quarter. Congress Park Capital LLC now owns 997,996 shares of the investment management company’s stock worth $2,984,000 after purchasing an additional 70,198 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Virtus Convertible & Income Fund II by 7.0% in the first quarter. Private Advisor Group LLC now owns 125,983 shares of the investment management company’s stock worth $377,000 after purchasing an additional 8,291 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its position in shares of Virtus Convertible & Income Fund II by 16.6% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 24,450 shares of the investment management company’s stock worth $73,000 after purchasing an additional 3,476 shares during the last quarter.

Virtus Convertible & Income Fund II Stock Performance

NCZ stock opened at $3.09 on Wednesday. The company’s 50 day moving average is $2.98 and its 200 day moving average is $2.92. Virtus Convertible & Income Fund II has a 1-year low of $2.50 and a 1-year high of $3.11.

Virtus Convertible & Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be paid a $0.03 dividend. This represents a $0.36 annualized dividend and a yield of 11.65%. The ex-dividend date of this dividend is Tuesday, November 12th.

Virtus Convertible & Income Fund II Profile

Virtus Convertible & Income Fund II is a closed ended fixed income 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 fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade.