Virtus Equity & Convertible Income Fund (NYSE:NIE) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Virtus Equity & Convertible Income Fund (NYSE:NIE) shares crossed 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 Trading Up 0.1%

The stock has a fifty day moving average of $25.07 and a 200-day moving average of $25.21.

Virtus Equity & Convertible Income Fund Announces Dividend

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

Institutional Investors Weigh In On Virtus Equity & Convertible Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in Virtus Equity & Convertible Income Fund by 0.3% during the 4th quarter. Advisors Asset Management Inc. now owns 863,318 shares of the company’s stock valued at $21,514,000 after purchasing an additional 2,998 shares in the last quarter. Royal Bank of Canada raised its position in Virtus Equity & Convertible Income Fund by 0.7% during the 1st quarter. Royal Bank of Canada now owns 575,167 shares of the company’s stock valued at $13,435,000 after purchasing an additional 4,007 shares in the last quarter. Guggenheim Capital LLC raised its position in Virtus Equity & Convertible Income Fund by 14.0% during the 4th quarter. Guggenheim Capital LLC now owns 479,040 shares of the company’s stock valued at $11,938,000 after purchasing an additional 58,661 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Virtus Equity & Convertible Income Fund by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 401,952 shares of the company’s stock valued at $10,165,000 after purchasing an additional 5,959 shares in the last quarter. Finally, Saba Capital Management L.P. raised its position in Virtus Equity & Convertible Income Fund by 21.2% during the 1st quarter. Saba Capital Management L.P. now owns 361,316 shares of the company’s stock valued at $8,440,000 after purchasing an additional 63,116 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.