Virtus Convertible & Income Fund II (NYSE:NCZ) Sees Significant Growth in Short Interest

Virtus Convertible & Income Fund II (NYSE:NCZ) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 398,000 shares, a growth of 63.2% from the November 30th total of 243,900 shares. Based on an average trading volume of 388,700 shares, the short-interest ratio is presently 1.0 days.

Virtus Convertible & Income Fund II Stock Performance

Shares of NYSE NCZ traded down $0.04 during mid-day trading on Friday, reaching $3.15. The company had a trading volume of 281,752 shares, compared to its average volume of 472,984. The company has a 50-day moving average price of $3.19 and a two-hundred day moving average price of $3.06. Virtus Convertible & Income Fund II has a 1-year low of $2.70 and a 1-year high of $3.36.

Virtus Convertible & Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 45.71%.

Institutional Trading of Virtus Convertible & Income Fund II

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Capital Management Inc. increased its position in shares of Virtus Convertible & Income Fund II by 6.0% in the third quarter. Integrated Capital Management Inc. now owns 81,897 shares of the investment management company’s stock worth $255,000 after acquiring an additional 4,646 shares in the last quarter. Virtu Financial LLC grew its position in Virtus Convertible & Income Fund II by 44.2% during the 3rd quarter. Virtu Financial LLC now owns 20,137 shares of the investment management company’s stock worth $63,000 after purchasing an additional 6,176 shares in the last quarter. Sykon Capital LLC acquired a new stake in Virtus Convertible & Income Fund II during the 2nd quarter valued at $29,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Virtus Convertible & Income Fund II in the third quarter valued at $40,000. Finally, Wealth Effects LLC acquired a new stake in shares of Virtus Convertible & Income Fund II in the third quarter worth $44,000.

Virtus Convertible & Income Fund II Company 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.