Virtus Equity & Convertible Income Fund (NYSE:NIE) Stock Price Passes Above 50 Day Moving Average – Here’s Why

Virtus Equity & Convertible Income Fund (NYSE:NIE)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $25.07 and traded as high as $26.57. Virtus Equity & Convertible Income Fund shares last traded at $26.4950, with a volume of 336,438 shares changing hands.

Virtus Equity & Convertible Income Fund Stock Down 0.1%

The company has a fifty day moving average price of $25.12 and a two-hundred day moving average price of $25.22.

Virtus Equity & Convertible Income Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend was Monday, March 16th.

Institutional Trading of Virtus Equity & Convertible Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in NIE. OxenFree Capital LLC grew its position in Virtus Equity & Convertible Income Fund by 1.0% during the fourth quarter. OxenFree Capital LLC now owns 56,643 shares of the company’s stock worth $1,412,000 after buying an additional 556 shares during the period. NewEdge Advisors LLC boosted its position in 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 worth $153,000 after purchasing an additional 617 shares in the last quarter. Stolper Co boosted its position in Virtus Equity & Convertible Income Fund by 2.3% during the fourth quarter. Stolper Co now owns 32,642 shares of the company’s stock worth $813,000 after purchasing an additional 719 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in Virtus Equity & Convertible Income Fund by 3.5% in the fourth quarter. Cornerstone Wealth Management LLC now owns 26,412 shares of the company’s stock valued at $658,000 after purchasing an additional 886 shares during the last quarter. Finally, PMG Family Office LLC increased its position in shares of Virtus Equity & Convertible Income Fund by 7.5% in the first quarter. PMG Family Office LLC now owns 31,747 shares of the company’s stock valued at $742,000 after buying an additional 2,223 shares in the last quarter.

Virtus Equity & Convertible Income Fund Company Profile

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.