Virtus Equity & Convertible Income Fund
NIE
68 hedge funds and large institutions have $120M invested in Virtus Equity & Convertible Income Fund in 2023 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 23 increasing their positions, 20 reducing their positions, and 10 closing their positions.
15% more repeat investments, than reductions
Existing positions increased: 23 | Existing positions reduced: 20
2% more capital invested
Capital invested by funds: $118M → $120M (+$1.87M)
1.12% less ownership
Funds ownership: 23.38% → 22.26% (-1.1%)
6% less funds holding
Funds holding: 72 → 68 (-4)
30% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 10
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$1.53M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$1.28M |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$1.18M |
| 4 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
+$605K |
| 5 |
SWM
Spire Wealth Management
Mclean,
Virginia
|
+$422K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$5.08M |
| 2 |
Allspring Global Investments
Charlotte,
North Carolina
|
-$3.23M |
| 3 |
Morgan Stanley
New York
|
-$1.43M |
| 4 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
-$646K |
| 5 |
Invesco
Atlanta,
Georgia
|
-$421K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
76
Rockefeller Capital Management
New York
| – | -$9K | -533 | Closed |
|
|
PFA
77
Pathway Financial Advisers
Auburn,
Indiana
| – | -$7.73K | -424 | Closed |
|
|
IA
78
IFP Advisors
Tampa,
Florida
| – | -$1K | -7 | Closed |
|
NIE Hedge Fund Activity: Q1 2023 in Review
68 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Virtus Equity & Convertible Income Fund (NIE) for Q1 2023, worth a combined $120M — up 1.6% from $118M a quarter earlier.
Sellers outnumbered buyers: 10 funds closed out of NIE and 7 opened new positions — a net loss of 3 holders — while 20 trimmed existing stakes and 23 added.
The largest buyer was Bank of America, adding an estimated $1.53M. The largest seller was Karpus Investment Management, exiting entirely with an estimated $5.08M sold.
- 68 institutional investors held Virtus Equity & Convertible Income Fund (NIE) as of Q1 2023, down from 72 in Q4 2022.
- Funds reported $120M of Virtus Equity & Convertible Income Fund stock for Q1 2023, up 1.6% quarter-over-quarter.
- 7 funds opened new Virtus Equity & Convertible Income Fund positions in Q1 2023 and 10 closed out, a net change of -3 holders.
- The largest Virtus Equity & Convertible Income Fund buyer in Q1 2023 was Bank of America, an estimated $1.53M added.
- The largest Virtus Equity & Convertible Income Fund seller in Q1 2023 was Karpus Investment Management, an estimated $5.08M sold.
Based on aggregated 13F filings for Q1 2023.