SVB Wealth LLC Makes New Investment in Virtus Convertible & Income Fund II (NYSE:NCZ)

SVB Wealth LLC purchased a new stake in Virtus Convertible & Income Fund II (NYSE:NCZ) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 25,150 shares of the investment management company’s stock, valued at approximately $75,000.

Several other institutional investors have also modified their holdings of NCZ. Gilliland Jeter Wealth Management LLC acquired a new stake in Virtus Convertible & Income Fund II in the fourth quarter valued at approximately $44,000. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Virtus Convertible & Income Fund II by 16.6% during the 1st 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. CTC Alternative Strategies Ltd. grew its stake in shares of Virtus Convertible & Income Fund II by 108.6% during the fourth quarter. CTC Alternative Strategies Ltd. now owns 37,764 shares of the investment management company’s stock worth $113,000 after purchasing an additional 19,664 shares in the last quarter. Integrated Capital Management Inc. increased its holdings in 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 valued at $193,000 after buying an additional 3,991 shares during the last quarter. Finally, PFG Investments LLC acquired a new stake in Virtus Convertible & Income Fund II in the first quarter valued at $193,000.

Virtus Convertible & Income Fund II Stock Up 2.1 %

NYSE:NCZ opened at $2.97 on Thursday. Virtus Convertible & Income Fund II has a 1 year low of $2.50 and a 1 year high of $3.15. The stock has a 50-day simple moving average of $2.91 and a 200-day simple moving average of $2.89.

Virtus Convertible & Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, August 12th. This represents a $0.36 dividend on an annualized basis and a yield of 12.12%.

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.