Virtus Equity & Convertible Income Fund Discloses Sources of Distribution – Section 19(a) Notice
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 27 2024
0mins
Source: Businesswire
Distribution Announcement: The Virtus Equity & Convertible Income Fund (NIE) has declared a quarterly distribution of $0.50 per share, payable on December 30, 2024, with the ex-date set for December 12, 2024.
Source of Distributions: The fund's distributions may include returns of capital, as it has distributed more than its net investment income and realized capital gains, which should not be confused with yield or income.
Analyst Views on NIE
Wall Street analysts forecast NIE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NIE is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 25.410
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Current: 25.410
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About NIE
Virtus Equity & Convertible Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek total return comprised of capital appreciation, current income and gains. The Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in a combination of equity securities and income-producing convertible securities. The equity component of the Fund may vary from 40-80% and the convertible component may vary from 20-60% of assets. The Fund's investment advisor is Virtus Investment Advisers, Inc. and its investment subadvisor is Voya Investment Management Co. LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
