Virtus Equity & Convertible Income Fund (NYSE:NIE – Get Rating) declared a quarterly dividend on Thursday, September 8th, Wall Street Journal reports. Stockholders of record on Monday, December 12th will be given a dividend of 0.50 per share on Friday, December 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.42%. The ex-dividend date is Friday, December 9th.
Virtus Equity & Convertible Income Fund has raised its dividend payment by an average of 9.9% per year over the last three years and has raised its dividend every year for the last 1 years.
Get Virtus Equity & Convertible Income Fund alerts:Virtus Equity & Convertible Income Fund Price Performance
Shares of NIE stock opened at $21.23 on Wednesday. The stock has a 50 day moving average price of $20.92 and a 200 day moving average price of $21.69. Virtus Equity & Convertible Income Fund has a 52-week low of $19.79 and a 52-week high of $31.41.
Institutional Trading of Virtus Equity & Convertible Income Fund
Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in Virtus Equity & Convertible Income Fund in the 1st quarter worth about $27,000. LPL Financial LLC grew its stake in Virtus Equity & Convertible Income Fund by 202.3% in the 2nd quarter. LPL Financial LLC now owns 62,451 shares of the company's stock worth $1,296,000 after acquiring an additional 41,793 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Virtus Equity & Convertible Income Fund by 87.0% during the second quarter. Thrivent Financial for Lutherans now owns 26,325 shares of the company's stock worth $546,000 after acquiring an additional 12,250 shares during the period. Walleye Capital LLC bought a new stake in shares of Virtus Equity & Convertible Income Fund during the second quarter valued at approximately $241,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Virtus Equity & Convertible Income Fund by 61.5% in the third quarter. Commonwealth Equity Services LLC now owns 72,107 shares of the company's stock valued at $1,464,000 after purchasing an additional 27,458 shares during the period.Virtus Equity & Convertible Income Fund Company Profile
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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.
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