Virtus Equity & Convertible Income Fund (NYSE:NIE) Stock Price Down 0.5% – Here’s What Happened

Virtus Equity & Convertible Income Fund (NYSE:NIE)’s share price fell 0.5% during mid-day trading on Friday . The company traded as low as $25.19 and last traded at $25.33. 36,518 shares changed hands during trading, a decline of 41% from the average session volume of 62,273 shares. The stock had previously closed at $25.47.

Virtus Equity & Convertible Income Fund Stock Down 0.5%

The firm’s 50-day simple moving average is $25.25 and its 200 day simple moving average is $24.11.

Virtus Equity & Convertible Income Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, September 12th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend was Friday, September 12th.

Institutional Trading of Virtus Equity & Convertible Income Fund

Hedge funds have recently added to or reduced their stakes in the business. Eastern Bank acquired a new position in Virtus Equity & Convertible Income Fund during the 1st quarter valued at about $29,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Virtus Equity & Convertible Income Fund in the 3rd quarter worth approximately $38,000. Westfuller Advisors LLC bought a new position in shares of Virtus Equity & Convertible Income Fund in the third quarter valued at approximately $53,000. CWM LLC increased its stake in shares of Virtus Equity & Convertible Income Fund by 73.3% during the third quarter. CWM LLC now owns 3,327 shares of the company’s stock valued at $84,000 after acquiring an additional 1,407 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Virtus Equity & Convertible Income Fund by 9.8% during the first quarter. NewEdge Advisors LLC now owns 6,925 shares of the company’s stock valued at $153,000 after acquiring an additional 617 shares during the period.

Virtus Equity & Convertible Income Fund Company Profile

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.