NCV
Virtus Convertible & Income FundNCV
NCV
About: Virtus Convertible & Income Fund is a diversified, closed-end management investment company. Its investment objective is to provide total return through a combination of capital appreciation and high current income. It intends to achieve the objective by investing in a portfolio of domestic convertible securities and non-convertible income-producing securities. Its portfolio of investments includes Software, the Internet, the Commercial Services sector in the form of Convertible Bonds and Notes, and Media, Oil, Gas & Consumable Fuels, and Entertainment sector in the form of Corporate Bonds and Notes.
0
Funds holding %
of 7,324 funds
–
Analysts bullish %
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
0.22% less ownership
Funds ownership: 24.81% [Q4 2024] → 24.59% (-0.22%) [Q1 2025]
9% less capital invested
Capital invested by funds: $77.8M [Q4 2024] → $70.5M (-$7.31M) [Q1 2025]
40% less funds holding
Funds holding: 91 [Q4 2024] → 55 (-36) [Q1 2025]
79% less first-time investments, than exits
New positions opened: 9 | Existing positions closed: 43
93% less repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 43
Research analyst outlook
We haven’t received any recent analyst ratings for NCV.
Financial journalist opinion
Negative
Seeking Alpha
1 month ago
NCV: Appealing Discount But Weak Track Record To Peers
NCV trades at a historically wide discount, making the current valuation more attractive, but its long-term performance lags convertible CEF peers. The fund's high distribution yield appears unsustainable, with frequent past cuts and significant return of capital, signaling caution for income-focused investors. NAV erosion and a recent reverse split highlight challenges this fund has faced, and leverage remains high, increasing risk during market downturns.
Positive
Seeking Alpha
1 month ago
NCV: A Fully Covered 12% Yield That Is Hard To Ignore
Virtus Convertible & Income Fund offers a 12% yield, providing high income with equity-like protection against currency devaluation. There is a very high probability that the United States will struggle to avoid currency devaluation going forward. The NCV closed-end fund's distribution is fully covered by investment income and realized gains, supporting the sustainability of its high yield for now.
Neutral
Business Wire
1 month ago
Virtus Convertible & Income Fund and Virtus Convertible & Income Fund II Announce Monthly Distributions
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) today announced the following distributions on their respective common shares: Virtus Convertible & Income Fund: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NCV $0.136 July 11, 2025 July 30, 2025 NCV $0.136 August 11, 2025 August 28, 2025 Virtus Convertible & Income Fund II: Ticker Amount of Distribution Ex-Date/Record Date Payable.
Neutral
Business Wire
1 month ago
Virtus Closed-End Funds Announce Results of Joint Annual Meeting of Shareholders
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), Virtus Convertible & Income Fund (NYSE: NCV), Virtus Convertible & Income Fund II (NYSE: NCZ), Virtus Diversified Income & Convertible Fund (NYSE: ACV), Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ), Virtus Equity & Convertible Income Fund (NYSE: NIE), Virtus Global Multi-Sector Income Fund (NYSE: VGI), Virtus Stone Harbor Emerging Markets Income.
Neutral
Business Wire
1 month ago
Virtus Convertible & Income Fund Announces Quarterly Distribution: 5.625% Series A Cumulative Preferred Shares
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Convertible & Income Fund (NYSE: NCV) announced today that it has declared a $0.3515625 per share cash distribution payable on June 30, 2025 to Series A cumulative preferred shareholders of record on June 12, 2025. The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCV PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.40625 per share. The 4,000,000 Series A Cumulative Prefer.
Positive
Seeking Alpha
4 months ago
NCV: High Yield And Fully Covered Distribution
The Virtus Convertible & Income Fund offers a high yield of 12.37%, but has struggled with negative real returns and distribution cuts over the past decade. The NCV closed-end fund invests primarily in convertible bonds, which have better inflation protection than traditional bonds, but its management has underperformed relative to indices. Recent performance has been volatile, with a slight gain of 1.46% over ten months, but distributions have helped offset share price declines.
Neutral
Business Wire
4 months ago
Virtus Convertible & Income Fund and Virtus Convertible & Income Fund II Announce Monthly Distributions
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) today announced the following distributions on their respective common shares: Virtus Convertible & Income Fund: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NCV $0.136 April 11, 2025 April 29, 2025 NCV $0.136 May 12, 2025 May 29, 2025 NCV $0.136 June 12, 2025 June 27, 2025 Virtus Convertible & Income Fund II: Ticker Amount of Distr.
Neutral
Business Wire
4 months ago
Virtus Convertible & Income Fund Announces Quarterly Distribution: 5.625% Series A Cumulative Preferred Shares
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Convertible & Income Fund (NYSE: NCV) announced today that it has declared a $0.3515625 per share cash distribution payable on March 31, 2025 to Series A cumulative preferred shareholders of record on March 17, 2025. The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCV PR A, are rated “A” by Fitch Ratings and have an annual dividend rate of $1.40625 per share. The 4,000,000 Series A Cumulative Pref.
Neutral
Business Wire
5 months ago
NCV, NCZ Announces Date of Reverse Stock Splits
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) announced that a 1-for-4 reverse stock split of the issued and outstanding shares of each Fund will be effective as of the start of trading on Monday, February 10, 2025 (“Effective Date”). The reverse stock splits were previously announced, approved by each Fund's board, and are intended to enhance shareholder value. As a result of the reverse stock splits,.
Positive
Seeking Alpha
7 months ago
NCV: 11% Yield, 9% Discount On Convertibles
The Virtus Convertible & Income Fund offers capital appreciation and high current income through a diversified portfolio of convertible securities and high-yield bonds. NCV has a high expense ratio of 3.41%, uses 35% leverage, and has seen a significant dividend decrease, with 2024 distributions being 100% Return of Capital. The fund's performance has lagged, especially in 2022, with a -34% price return, and it currently trades at a 9.45% discount to NAV.
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