Virtus Equity & Convertible Income Fund (NYSE:NIE) Plans Quarterly Dividend of $0.50

Virtus Equity & Convertible Income Fund (NYSE:NIE) announced a quarterly dividend on Wednesday, March 4th. Investors of record on Monday, March 16th will be given a dividend of 0.50 per share on Monday, March 30th. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Monday, March 16th.

Virtus Equity & Convertible Income Fund Price Performance

Shares of NYSE:NIE opened at $25.31 on Thursday. The firm has a fifty day moving average price of $25.39 and a two-hundred day moving average price of $25.24. Virtus Equity & Convertible Income Fund has a one year low of $18.54 and a one year high of $26.00.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Bell Private Wealth Management LLC bought a new stake in shares of Virtus Equity & Convertible Income Fund during the 3rd quarter valued at about $38,000. Westfuller Advisors LLC bought a new stake in Virtus Equity & Convertible Income Fund during the third quarter valued at approximately $53,000. CWM LLC grew its stake in Virtus Equity & Convertible Income Fund by 73.3% in the 3rd quarter. CWM LLC now owns 3,327 shares of the company’s stock worth $84,000 after buying an additional 1,407 shares in the last quarter. US Bancorp DE purchased a new position in Virtus Equity & Convertible Income Fund in the 3rd quarter worth approximately $104,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Virtus Equity & Convertible Income Fund by 9.8% in the 1st quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock worth $153,000 after buying an additional 617 shares during the last quarter.

About Virtus Equity & Convertible Income Fund

Virtus Equity & Convertible Income Fund (NYSE:NIE) is a diversified, closed-end management investment company designed to provide shareholders with a combination of current income and capital appreciation. The fund seeks to achieve its objectives by investing predominantly in convertible securities of U.S. and non-U.S. issuers alongside selected common stocks. Leveraging the hybrid characteristics of convertibles, the fund aims to capture income potential while maintaining exposure to equity market upside.

The fund’s investment strategy centers on a flexible allocation between fixed-income and equity components, with portfolio managers conducting rigorous credit and equity research to identify issuers offering attractive risk-reward profiles.