Virtus Equity & Convertible Inc Fund:NIE

    Manage Alerts

    Overview

    As of 6/21/2024. NAV as of 6/20/2024.

     Share
    Price
    NAVPremium/
    Discount
    Current$22.86$25.08-9.05%
    52 Wk Avg$21.27$23.73-10.33%
    52 Wk High$23.37$25.46-7.60%
    52 Wk Low$18.62$21.21-12.36%
    Regular Distribution TypeIncome Only
    Distribution Rate8.75%
    Distribution Amount$0.5000
    Distribution FrequencyQuarterly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Funds investment objective is to seek total return comprised of capital appreciation, current income and gains. The Fund pursues its investment objective by investing in a diversified portfolio of equity securities and income-producing convertible securities. The Fund also employs a strategy of writing (selling) call options on the stocks held in the Equity Component as well as on equity indexes, generally with respect to up to approximately 70% of the value of the securities in the Equity Component. The extent of the Fund’s use of this options strategy will vary depending on market conditions and other factors.

    Capital Structure

    As of 6/21/2024

    Total Investment Exposure:$694.941M
    Total Common Assets:$694.941M
    Common Shares Outstanding:27,708,965
    Annual Expense Ratios

    As of 1/31/2024

      Per Common Share
    Management Fees1.00%
    Other Expenses:0.07%
    Baseline Expense: N/A
    Interest Expense:0.00%
    Total: 1.07%
    Fund Management

    Fund Sponsor
    Virtus Investment Advisers, Inc.

    Portfolio Managers
    David Oberto, Ethan Turner, Justin M. Kass, Michael E. Yee

    Basics
    Category: Hybrid-U.S. Allocation
    Ticker: NIE
    NAV Ticker: XNIEX
    Average Daily Volume (shares): 69,831
    Average Daily Volume (USD): $1.482M
    Inception Date: 2/27/2007
    Inception Share Price: $25.00
    Inception NAV: $23.83
    Tender Offer: No
    Term: No
    Fiscal Year End: January 31
    Third Party Links & Reports

    Distributions

    As of 6/21/2024

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 1/31/2024
    $0.0987
    Annualized Distribution Rate on NAV:
    As of 6/21/2024
    7.97%
    Total Return on NAV (12 months):
    As of 6/21/2024
    20.18%
    Avg. Portfolio Coupon:
    As of 6/21/2024
    1.81%
    Total % Portfolio Effectively Leveraged:
    As of 6/21/2024
    0.00%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 6/21/2024

    PeriodAvg Discount
    6 Month-10.48%
    1 Year-10.33%
    3 Year-10.75%
    5 Year-10.20%
    Z-Score

    As of 6/21/2024

    PeriodZStat
    3 Month1.34
    6 Month1.76
    1 Year1.37
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 5/31/2024
    Category: Morningstar US CEF US Allocation

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD9.45%6.98%9.89%7.20%
    202326.66%22.94%8.46%10.55%
    2022-26.70%-24.37%-17.94%-12.77%
    202118.78%17.70%25.66%17.24%
    202033.52%33.04%0.91%6.36%
    201931.06%26.10%29.77%22.10%
    2018-5.70%-3.76%-8.36%-4.98%
    201723.69%16.79%21.52%14.50%
    201611.31%9.14%17.59%13.14%
    2015-5.89%-1.42%-9.73%-7.35%
    201413.05%7.31%11.82%9.17%
    201326.06%25.15%19.53%19.58%
    201213.91%11.84%13.72%13.14%
    2011-8.53%-2.95%  
    201017.44%15.33%  
    200947.91%43.66%  
    2008-37.54%-38.48%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 5/31/2024
    Category: Morningstar US CEF US Allocation

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 6/20/2024
    1.81%
    Number of Holdings:
    As of 5/31/2024
    152
    Annual Portfolio Turnover:
    As of 1/31/2024
    104.00%
    Asset Allocation

    As of 5/31/2024

    Top Sectors

    As of 5/31/2024

    Sector%Portfolio
    Sensitive (Super Sector)32.22%
    Corporate (Super Sector)30.57%
    Convertible23.05%
    Technology19.88%
    Cyclical (Super Sector)19.38%
    Defensive (Super Sector)9.73%
    Financial Services9.33%
    Consumer Cyclical7.46%
    Cash Equivalents (Super Sector)7.15%
    Cash Equivalents7.15%
    Top Holdings

    As of 5/31/2024

    HoldingValue% Portfolio
    Microsoft Corp$38.01M5.51%
    Amazon.com Inc$25.38M3.68%
    Apple Inc$21.85M3.17%
    NVIDIA Corp$18.95M2.75%
    Alphabet Inc Class A$16.13M2.34%
    Verizon Communications Inc$14.27M2.07%
    Eli Lilly and Co$13.52M1.96%
    Mastercard Inc Class A$12.05M1.75%
    Citigroup Inc$10.00M1.45%
    GE Aerospace$9.71M1.41%
    Credit Quality

    As of 5/31/2024

    Maturity Breakdown

    As of 5/31/2024

    Country Allocation

    As of 5/31/2024

    Country% Portfolio
    United States - Equity58.71%
    United States - Fixed Income5.45%
    Taiwan - Equity1.35%
    Netherlands - Equity1.03%
    China - Equity0.24%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

    E-2949862P-E0623W