Virtus Funds Announce Monthly Distributions for NCV and NCZ

The Virtus Convertible & Income Fund and Virtus Convertible & Income Fund II have announced monthly distributions of $0.136 and $0.120, respectively. The distributions are estimated and subject to change based on tax regulations. The funds have an investment objective of providing total return through a combination of capital appreciation and high current income. They are managed by Virtus Investment Advisers and subadvised by Voya Investment Management. An investment in the funds is subject to risk, including the risk of possible loss of principal.

The Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) recently announced their monthly distributions and reverse stock splits. According to a press release from Virtus Investment Partners, the Boards of Trustees approved a 1-for-4 reverse stock split for each fund, effective on or about February 10, 2025 [1].

The funds aim to provide total return through a combination of capital appreciation and high current income. They are managed by Virtus Investment Advisers and subadvised by Voya Investment Management. NCV and NCZ investors will receive the same percentage of their fund's outstanding common stock after the reverse stock split and will continue to receive the same monthly cash flow from distributions on net asset value [2].

The reverse stock split is expected to result in a higher per-share market price for each fund's common shares, potentially broadening the range of potential investors and improving market liquidity. The distributions are estimated and subject to change based on tax regulations.

Investors in NCV and NCZ should note that an investment in the funds is subject to risks, including the risk of possible loss of principal. The funds' investment objectives, risks, and other important information are detailed in their prospectuses, which investors should read carefully before investing [3].

References:

[1] Virtus Investment Partners. (2024, November 20). NCV-NCZ Announce Reverse Stock Splits and Monthly Distributions. https://ir.virtus.com/news/news-details/2024/NCV-NCZ-Announce-Reverse-Stock-Splits-and-Monthly-Distributions/default.aspx

[2] Virtus Investment Partners. (2022). Virtus Convertible & Income Fund. https://www.virtus.com/products/virtus-convertible-income-fund

[3] Virtus Investment Partners. (2022). Virtus Convertible & Income Fund II. https://www.virtus.com/products/virtus-convertible-income-fund-ii