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The Virtus Convertible & Income Fund, previously known as AGIC Convertible & Income Fund, is a U.S.-domiciled, closed-end mutual fund specializing in fixed-income investments. Launched and primarily overseen by Allianz Global Investors Fund Management LLC, with Allianz Global Investors U.S. LLC serving as co-manager, this fund was established on March 31, 2003. Its investment strategy concentrates on the fixed-income markets within the United States, predominantly allocating capital to convertible securities and non-convertible high-yield bonds that are rated below investment grade. The fund…
Is NCV's expense ratio expensive, average, or a steal for its category?
Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.
Virtus Convertible & Income Fund II and Virtus Convertible & Income Fund hold nearly identical portfolios, yet they trade unusually far apart. NCZ trades at a 9.51% discount versus NCV's 12.13% discount, a gap about two standard deviations above its one-year average of roughly 0.5 points. With a 0.998 correlation in daily NAV moves over the past year, rotating from NCZ to NCV keeps essentially the same convertibles exposure at a lower valuation.
Virtus Convertible & Income Fund offers a 10.25% dividend yield, trading at a 9.34% discount to NAV, near its 5-year average. NCV maintains high leverage at 33.22%, with 65.3% in convertibles and 29.5% in high-yield bonds, focusing on IT, Industrials, and Financials. The fund's preferred stock yields 7.22%, trades below par, holds an A rating, and is considered among the safest preferreds in its peer group.
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 September 30, 2026 to Series A cumulative preferred shareholders of record on September 23, 2026. 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 Cumulat.
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 September 14, 2026 September 29, 2026 NCV $0.136 October 13, 2026 October 29, 2026 NCV $0.136 November 12, 2026 November 27, 2026 Virtus Convertible & Income Fund II.
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), Virtus Diversified Income & Convertible Fund (NYSE: ACV), Virtus Convertible & Income Fund (NYSE: NCV), Virtus Convertible & Income Fund II (NYSE: NCZ), and Virtus Equity & Convertible Income Fund (NYSE: NIE) (collectively, the “Funds”) announced today certain portfolio management refinements approved by the Board of Trustees. Under the refined portfolio management s.