Short Interest in Virtus Convertible & Income Fund II (NYSE:NCZ) Grows By 167.6%

Virtus Convertible & Income Fund II (NYSE:NCZ) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 148,000 shares, a growth of 167.6% from the March 31st total of 55,300 shares. Based on an average daily volume of 448,700 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Virtus Convertible & Income Fund II

Several institutional investors have recently made changes to their positions in NCZ. PFG Investments LLC acquired a new position in shares of Virtus Convertible & Income Fund II during the first quarter valued at $193,000. Congress Park Capital LLC lifted its position in Virtus Convertible & Income Fund II by 7.6% in the 1st quarter. Congress Park Capital LLC now owns 997,996 shares of the investment management company’s stock valued at $2,984,000 after purchasing an additional 70,198 shares during the last quarter. Integrated Capital Management Inc. boosted its stake in Virtus Convertible & Income Fund II by 6.6% during the 1st quarter. Integrated Capital Management Inc. now owns 64,684 shares of the investment management company’s stock valued at $193,000 after purchasing an additional 3,991 shares during the period. Park Avenue Securities LLC grew its position in Virtus Convertible & Income Fund II by 3.5% in the 1st quarter. Park Avenue Securities LLC now owns 440,606 shares of the investment management company’s stock worth $1,317,000 after purchasing an additional 14,886 shares during the last quarter. Finally, Gridiron Partners LLC acquired a new stake in shares of Virtus Convertible & Income Fund II in the fourth quarter valued at approximately $1,071,000.

Virtus Convertible & Income Fund II Trading Up 1.1 %

Shares of Virtus Convertible & Income Fund II stock traded up $0.03 during trading hours on Friday, reaching $2.81. The company’s stock had a trading volume of 431,097 shares, compared to its average volume of 443,706. Virtus Convertible & Income Fund II has a one year low of $2.50 and a one year high of $3.15. The company’s 50 day simple moving average is $2.87 and its 200 day simple moving average is $2.84.

Virtus Convertible & Income Fund II Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, April 11th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a yield of 12.24%.

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.