Virtus Convertible & Income Fund II (NYSE:NCZ) to Issue $0.03 Monthly Dividend

Virtus Convertible & Income Fund II (NYSE:NCZ) announced a monthly dividend on Monday, November 20th, Wall Street Journal reports. Investors of record on Friday, January 12th will be paid a dividend of 0.03 per share by the investment management company on Tuesday, January 30th. This represents a $0.36 dividend on an annualized basis and a yield of 13.04%. The ex-dividend date is Thursday, January 11th.

Virtus Convertible & Income Fund II has decreased its dividend by an average of 5.5% annually over the last three years.

Virtus Convertible & Income Fund II Price Performance

NYSE NCZ traded up $0.03 during midday trading on Monday, hitting $2.76. The company had a trading volume of 518,360 shares, compared to its average volume of 528,947. The firm has a 50-day moving average price of $2.70 and a 200-day moving average price of $2.89. Virtus Convertible & Income Fund II has a twelve month low of $2.50 and a twelve month high of $3.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NCZ. Wells Fargo & Company MN grew its stake in Virtus Convertible & Income Fund II by 20.6% during the fourth quarter. Wells Fargo & Company MN now owns 46,491 shares of the investment management company’s stock worth $134,000 after buying an additional 7,933 shares in the last quarter. Royal Bank of Canada increased its stake in Virtus Convertible & Income Fund II by 58.5% in the third quarter. Royal Bank of Canada now owns 46,812 shares of the investment management company’s stock valued at $132,000 after acquiring an additional 17,285 shares during the last quarter. JPMorgan Chase & Co. raised its position in Virtus Convertible & Income Fund II by 76,053.7% during the first quarter. JPMorgan Chase & Co. now owns 41,123 shares of the investment management company’s stock valued at $123,000 after purchasing an additional 41,069 shares in the last quarter. Arlington Capital Management Inc. acquired a new position in Virtus Convertible & Income Fund II during the first quarter valued at approximately $111,000. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in Virtus Convertible & Income Fund II during the second quarter worth $103,000.

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.