Virtus Equity & Convertible Income Fund (NYSE:NIE) Trading 1.1% Higher

Virtus Equity & Convertible Income Fund (NYSE:NIE) shares traded up 1.1% during mid-day trading on Wednesday . The company traded as high as $23.23 and last traded at $23.18. 81,540 shares changed hands during trading, an increase of 22% from the average session volume of 66,847 shares. The stock had previously closed at $22.92.

Virtus Equity & Convertible Income Fund Stock Performance

The business’s 50-day simple moving average is $22.46 and its 200-day simple moving average is $21.91.

Virtus Equity & Convertible Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 8.61%. The ex-dividend date was Thursday, June 13th.

Hedge Funds Weigh In On Virtus Equity & Convertible Income Fund

Several institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC purchased a new position in shares of Virtus Equity & Convertible Income Fund during the 1st quarter valued at approximately $430,000. Advisors Asset Management Inc. increased its holdings in Virtus Equity & Convertible Income Fund by 16.3% in the 1st quarter. Advisors Asset Management Inc. now owns 793,170 shares of the company’s stock worth $17,759,000 after acquiring an additional 110,918 shares in the last quarter. Cornerstone Advisors LLC increased its holdings in Virtus Equity & Convertible Income Fund by 79.6% in the 1st quarter. Cornerstone Advisors LLC now owns 187,603 shares of the company’s stock worth $4,200,000 after acquiring an additional 83,173 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in Virtus Equity & Convertible Income Fund by 4.6% in the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 208,999 shares of the company’s stock worth $4,680,000 after acquiring an additional 9,148 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC purchased a new stake in Virtus Equity & Convertible Income Fund in the 1st quarter worth $34,000.

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.