Gilliland Jeter Wealth Management LLC Buys New Shares in Virtus Convertible & Income Fund II (NYSE:NCZ)

Gilliland Jeter Wealth Management LLC purchased a new position in shares of Virtus Convertible & Income Fund II (NYSE:NCZ) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 14,871 shares of the investment management company’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NCZ. Commonwealth Equity Services LLC grew its holdings in Virtus Convertible & Income Fund II by 29.3% during the third quarter. Commonwealth Equity Services LLC now owns 247,470 shares of the investment management company’s stock worth $683,000 after purchasing an additional 56,113 shares during the period. Advisor Partners II LLC bought a new position in Virtus Convertible & Income Fund II during the third quarter worth about $769,000. Park Avenue Securities LLC grew its holdings in Virtus Convertible & Income Fund II by 1.4% during the third quarter. Park Avenue Securities LLC now owns 392,118 shares of the investment management company’s stock worth $1,082,000 after purchasing an additional 5,591 shares during the period. Ieq Capital LLC grew its holdings in Virtus Convertible & Income Fund II by 50.0% during the third quarter. Ieq Capital LLC now owns 43,385 shares of the investment management company’s stock worth $120,000 after purchasing an additional 14,463 shares during the period. Finally, Landscape Capital Management L.L.C. grew its holdings in Virtus Convertible & Income Fund II by 126.5% during the third quarter. Landscape Capital Management L.L.C. now owns 87,808 shares of the investment management company’s stock worth $242,000 after purchasing an additional 49,033 shares during the period.

Virtus Convertible & Income Fund II Trading Up 1.4 %

Virtus Convertible & Income Fund II stock traded up $0.04 during midday trading on Friday, reaching $2.82. 431,705 shares of the company’s stock were exchanged, compared to its average volume of 443,706. Virtus Convertible & Income Fund II has a 52 week low of $2.50 and a 52 week high of $3.15. The stock’s 50-day simple moving average is $2.87 and its 200 day simple moving average is $2.84.

Virtus Convertible & Income Fund II Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, April 11th will be issued a dividend of $0.03 per share. This represents a dividend yield of 12.24%. The ex-dividend date of this dividend is Wednesday, April 10th.

About Virtus Convertible & Income Fund II

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.