Allianzgi Convertible & Income Fund (NYSE:NCV) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 566,640 shares, a drop of 34.1% from the August 15th total of 859,361 shares. Based on an average daily trading volume, of 225,216 shares, the days-to-cover ratio is currently 2.5 days. Currently, 0.7% of the shares of the company are sold short.
Shares of Allianzgi Convertible & Income Fund (NYSE:NCV) opened at 6.68 on Friday. Allianzgi Convertible & Income Fund has a 52-week low of $4.41 and a 52-week high of $6.87. The firm has a 50-day moving average price of $6.65 and a 200-day moving average price of $6.09.
The company also recently announced a monthly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a dividend of $0.065 per share. The ex-dividend date is Thursday, September 8th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 11.68%.
About Allianzgi Convertible & Income Fund
AllianzGI Convertible & Income Fund is a closed-end fund. The Fund investment objective is to provide total return through a combination of capital appreciation and high current income. The Funds attempt to achieve this objective by investing in a portfolio of convertible securities and non-convertible income-producing securities.
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