Sequoia Financial Advisors LLC Makes New $40,000 Investment in Virtus Convertible & Income Fund II (NYSE:NCZ)

Sequoia Financial Advisors LLC acquired a new stake in Virtus Convertible & Income Fund II (NYSE:NCZ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,000 shares of the investment management company’s stock, valued at approximately $40,000.

A number of other hedge funds also recently made changes to their positions in the business. Sykon Capital LLC acquired a new position in Virtus Convertible & Income Fund II in the second quarter worth about $29,000. Great Valley Advisor Group Inc. acquired a new position in shares of Virtus Convertible & Income Fund II in the 2nd quarter worth approximately $32,000. Wealth Effects LLC bought a new position in shares of Virtus Convertible & Income Fund II during the 3rd quarter worth approximately $44,000. Sanctuary Advisors LLC acquired a new stake in Virtus Convertible & Income Fund II in the 2nd quarter valued at $59,000. Finally, Pinnacle Wealth Planning Services Inc. grew its position in Virtus Convertible & Income Fund II by 16.6% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 24,450 shares of the investment management company’s stock valued at $73,000 after acquiring an additional 3,476 shares during the period.

Virtus Convertible & Income Fund II Trading Up 0.3 %

Virtus Convertible & Income Fund II stock opened at $3.05 on Thursday. The stock has a fifty day moving average price of $3.06 and a two-hundred day moving average price of $2.95. Virtus Convertible & Income Fund II has a 52-week low of $2.53 and a 52-week high of $3.22.

Virtus Convertible & Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th will be given a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 11.80%. The ex-dividend date of this dividend is Tuesday, November 12th.

Virtus Convertible & Income Fund II Profile

Virtus 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.