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NCZ

Virtus Convertible & Income Fund II
NCZ

50 hedge funds and large institutions have $56.3M invested in Virtus Convertible & Income Fund II in 2014 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 16 increasing their positions, 12 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

175% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 4

33% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 12

14% more capital invested

Capital invested by funds: $49.5M → $56.3M (+$6.86M)

11% more funds holding

Funds holding: 45 → 50 (+5)

0.33% more ownership

Funds ownership: 1.74% → 2.06% (+0.33%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
50
Holders Change
+5
Holders Change %
+11.11%
% of All Funds
1.33%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
11
Increased
16
Reduced
12
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LTFS
Ladenburg Thalmann Financial Services
Florida
+$1.35M
2
Morgan Stanley
Morgan Stanley
New York
+$1.2M
3
LPL Financial
LPL Financial
California
+$738K
4
CIA
Capital Investment Advisors
Georgia
+$737K
5
Cohen & Steers
Cohen & Steers
New York
+$356K

Top Sellers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
-$717K
2
Invesco
Invesco
Georgia
-$461K
3
NFG
Next Financial Group
Texas
-$297K
4
DA
Doliver Advisors
Texas
-$261K
5
GC
Guggenheim Capital
Illinois
-$131K
Name Holding Trade Value Shares
Change 		Change in
Stake
Deutsche Bank
26
Deutsche Bank
Germany
$127K -$16.9K -477 -12%
WS
27
Wedbush Securities
California
$120K -$7.03K -199 -6%
Royal Bank of Canada
28
Royal Bank of Canada
Ontario, Canada
$112K +$8.09K +229 +8%
HighTower Advisors
29
HighTower Advisors
Illinois
$107K – – –
SPC
30
Sigma Planning Corp
Michigan
$103K +$102K +2,901 New
FIM
31
Freedom Investment Management
Connecticut
$94K +$93.2K +2,639 New
IH
32
IFC Holdings
Florida
$91K -$8.27K -234 -8%
CAN
33
Cetera Advisor Networks
California
$91K +$90.3K +2,557 New
PNC Financial Services Group
34
PNC Financial Services Group
Pennsylvania
$78K – – –
ECM
35
Estabrook Capital Management
New York
$33.4K +$883 +25 +3%
MWP
36
MYCIO Wealth Partners
Pennsylvania
$26K +$707 +20 +3%
CFA
37
Carroll Financial Associates
North Carolina
$26K +$26.5K +750 New
NFG
38
Next Financial Group
Texas
$19K -$297K -8,409 -94%
Citigroup
39
Citigroup
New York
$19K -$918 -26 -5%
CCS
40
Crosspoint Capital Strategies
California
$19K – – –
Envestnet Asset Management
41
Envestnet Asset Management
Illinois
$18K – – –
FMP
42
Financial Management Professionals
Texas
$18K +$17.7K +500 New
RIA
43
Regal Investment Advisors
Michigan
$18K +$18.1K +513 New
BRWM
44
B. Riley Wealth Management
Tennessee
$17K – – –
PSI
45
Pinnacle Summer Investments
Virginia
$17K – – –
First Manhattan
46
First Manhattan
New York
$13K – – –
Fifth Third Bancorp
47
Fifth Third Bancorp
Ohio
$9K +$8.83K +250 New
BRWA
48
B. Riley Wealth Advisors
Florida
$4.92K -$3.43K -97 -0.8%
SSB
49
Sandy Spring Bank
Maryland
$3K – – –
FWM
50
Focused Wealth Management
New York
$2K – – –
1
2
3

NCZ Hedge Fund Activity: Q4 2014 in Review

50 of the 3,751 institutional investors tracked by Wall St. Rank reported a position in Virtus Convertible & Income Fund II (NCZ) for Q4 2014, worth a combined $56.3M — up 14% from $49.5M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new NCZ positions and 4 closed out — a net gain of 7 holders — while 16 added to existing stakes and 12 trimmed.

The largest buyer was Ladenburg Thalmann Financial Services, adding an estimated $1.35M. The largest seller was Bank of America, cutting an estimated $717K.

  • 50 institutional investors held Virtus Convertible & Income Fund II (NCZ) as of Q4 2014, up from 45 in Q3 2014.
  • Funds reported $56.3M of Virtus Convertible & Income Fund II stock for Q4 2014, up 14% quarter-over-quarter.
  • 11 funds opened new Virtus Convertible & Income Fund II positions in Q4 2014 and 4 closed out, a net change of +7 holders.
  • The largest Virtus Convertible & Income Fund II buyer in Q4 2014 was Ladenburg Thalmann Financial Services, an estimated $1.35M added.
  • The largest Virtus Convertible & Income Fund II seller in Q4 2014 was Bank of America, an estimated $717K sold.

Based on aggregated 13F filings for Q4 2014.