Short Interest in Virtus Convertible & Income Fund II (NYSE:NCZ) Drops By 30.5%

Virtus Convertible & Income Fund II (NYSE:NCZ) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 107,400 shares, a decrease of 30.5% from the February 13th total of 154,500 shares. Based on an average daily volume of 91,300 shares, the short-interest ratio is currently 1.2 days.

Virtus Convertible & Income Fund II Price Performance

NYSE NCZ traded up $0.08 during trading on Monday, hitting $11.72. 88,013 shares of the company traded hands, compared to its average volume of 111,913. The business has a fifty day simple moving average of $12.63 and a 200 day simple moving average of $12.59. Virtus Convertible & Income Fund II has a 12 month low of $10.80 and a 12 month high of $13.44.

Virtus Convertible & Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 29th. Investors of record on Friday, April 11th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.44 annualized dividend and a dividend yield of 12.29%.

Institutional Trading of Virtus Convertible & Income Fund II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Congress Park Capital LLC boosted its position in shares of Virtus Convertible & Income Fund II by 30.5% in the fourth quarter. Congress Park Capital LLC now owns 1,792,142 shares of the investment management company’s stock valued at $5,609,000 after acquiring an additional 418,741 shares during the period. LPL Financial LLC boosted its holdings in Virtus Convertible & Income Fund II by 103.8% in the 4th quarter. LPL Financial LLC now owns 592,550 shares of the investment management company’s stock valued at $1,855,000 after purchasing an additional 301,805 shares during the period. Pathstone Holdings LLC grew its position in Virtus Convertible & Income Fund II by 27.2% in the 3rd quarter. Pathstone Holdings LLC now owns 1,408,269 shares of the investment management company’s stock worth $4,381,000 after purchasing an additional 300,758 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Virtus Convertible & Income Fund II by 8.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,931,534 shares of the investment management company’s stock worth $9,117,000 after purchasing an additional 219,726 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Virtus Convertible & Income Fund II during the fourth quarter valued at about $644,000.

About Virtus Convertible & Income Fund II

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.