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

Virtus Equity & Convertible Income Fund (NYSE:NIE) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 168,500 shares, an increase of 196.1% from the December 31st total of 56,900 shares. Based on an average daily trading volume, of 60,300 shares, the short-interest ratio is currently 2.8 days.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several large investors have recently bought and sold shares of NIE. Advisors Asset Management Inc. raised its stake in Virtus Equity & Convertible Income Fund by 2.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 954,418 shares of the company’s stock worth $21,961,000 after acquiring an additional 24,306 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Virtus Equity & Convertible Income Fund by 0.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 382,423 shares of the company’s stock worth $8,800,000 after purchasing an additional 2,767 shares during the period. International Assets Investment Management LLC increased its holdings in Virtus Equity & Convertible Income Fund by 2,082.9% in the 3rd quarter. International Assets Investment Management LLC now owns 291,307 shares of the company’s stock worth $6,703,000 after buying an additional 277,962 shares during the period. Raymond James & Associates boosted its holdings in Virtus Equity & Convertible Income Fund by 0.5% during the third quarter. Raymond James & Associates now owns 224,251 shares of the company’s stock worth $5,160,000 after buying an additional 1,071 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in Virtus Equity & Convertible Income Fund by 5.9% in the third quarter. Sanctuary Advisors LLC now owns 85,664 shares of the company’s stock valued at $2,067,000 after buying an additional 4,776 shares in the last quarter.

Virtus Equity & Convertible Income Fund Trading Down 0.6 %

NIE traded down $0.15 on Wednesday, reaching $24.75. 49,004 shares of the company traded hands, compared to its average volume of 65,428. Virtus Equity & Convertible Income Fund has a one year low of $20.75 and a one year high of $25.44. The firm has a fifty day simple moving average of $24.47 and a two-hundred day simple moving average of $23.42.

Virtus Equity & Convertible Income Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Thursday, December 12th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $2.00 annualized dividend and a yield of 8.08%.

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.