Short Interest in Virtus AllianzGI Convertible & Income Fund II (NYSE:NCZ) Drops By 18.4%

Virtus AllianzGI Convertible & Income Fund II (NYSE:NCZ – Get Rating) was the target of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 31,000 shares, a decrease of 18.4% from the April 15th total of 38,000 shares. Based on an average trading volume of 360,100 shares, the days-to-cover ratio is currently 0.1 days.

Several institutional investors and hedge funds have recently made changes to their positions in NCZ. UMB Bank N A MO purchased a new stake in shares of Virtus AllianzGI Convertible & Income Fund II in the fourth quarter valued at $28,000. B. Riley Wealth Management Inc. purchased a new position in Virtus AllianzGI Convertible & Income Fund II in the 1st quarter worth about $52,000. Raymond James Financial Services Advisors Inc. purchased a new position in Virtus AllianzGI Convertible & Income Fund II in the 4th quarter worth about $58,000. Cetera Advisors LLC purchased a new position in Virtus AllianzGI Convertible & Income Fund II in the 3rd quarter worth about $61,000. Finally, Park Avenue Securities LLC purchased a new position in Virtus AllianzGI Convertible & Income Fund II in the 1st quarter worth about $64,000.

Shares of NCZ traded up $0.06 during midday trading on Tuesday, hitting $3.40. The stock had a trading volume of 402,336 shares, compared to its average volume of 385,126. Virtus AllianzGI Convertible & Income Fund II has a 1 year low of $3.24 and a 1 year high of $5.51. The stock’s 50 day moving average is $4.03 and its 200 day moving average is $4.59.

The company also recently announced a monthly dividend, which will be paid on Friday, July 1st. Stockholders of record on Monday, June 13th will be paid a $0.0375 dividend. This represents a $0.45 annualized dividend and a dividend yield of 13.24%. The ex-dividend date of this dividend is Friday, June 10th.

Virtus AllianzGI Convertible & Income Fund II Company Profile (Get Rating)

AllianzGI 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.

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