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Virtus Convertible & Income Fund: Director MCDANIEL CONNIE D buys 367 shares at $13.59/share.
ByAinvest
Wednesday, Jun 18, 2025 12:49 pm ET1min read
Virtus Convertible & Income Fund (NCV) has disclosed that Director Connie D. McDaniel has made a recent acquisition of 367 shares at a price of $13.59 per share on June 16, 2025.
Virtus Convertible & Income Fund (NYSE: NCV) has seen recent activity as Director Connie D. McDaniel acquired 367 shares at a price of $13.59 per share on June 16, 2025. This move comes amidst the fund's announcement of monthly distributions, offering investors a high level of current income without sacrificing equity exposure [3].The Virtus Convertible & Income Fund (NCV) provides a method for investors to achieve a very high level of current income, with a current yield of 12% [1]. The fund's investment objective is to provide total return through a combination of capital appreciation and high current income. The fund's advisor, Virtus Investment Advisers, LLC, is a registered investment adviser affiliated with Virtus Investment Partners, Inc., with Voya Investment Management serving as the subadviser [3].
The fund has announced monthly distributions for its common shares. For the month of July, the distribution amounts to $0.136 per share, with ex-dates and record dates set for July 11, 2025, and payable on July 30, 2025. Similar distributions are expected for August [3].
Despite the attractive income potential, investors should be aware of the risks associated with closed-end funds. These funds may trade at a premium or discount to their net asset value, and there is always a risk of possible loss of principal [3].
References:
[1] https://seekingalpha.com/article/4795236-ncv-a-fully-covered-12-percent-yield-that-is-hard-to-ignore?source=affiliate_program:stockanalysis.com&utm_medium=affiliate&utm_source=stockanalysis.com&affid=858&oid=16&transaction=3c258c7051d24b2ca55e821f1be33204
[2] https://seekingalpha.com/article/4795236-ncv-a-fully-covered-12-percent-yield-that-is-hard-to-ignore
[3] https://www.businesswire.com/news/home/20250604873591/en/Virtus-Convertible-Income-Fund-and-Virtus-Convertible-Income-Fund-II-Announce-Monthly-Distributions
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