Virtus Convertible & Income Fund's Preferred Stock: Yield Over 6.5% With An "A" Credit Rating
Summarize this article with:
Arbitrage TraderInvesting Group LeaderFollow5ShareSavePlay(5min)CommentsSummaryVirtus Convertible & Income Fund (NCV) manages $382 million in assets with approximately 34% leverage.NCV's portfolio consists of about 60% convertible securities and 35% high yield bonds, spanning 221 holdings.Information Technology dominates NCV’s sector allocation at 23.33%, followed by Industrials at 15.44% and Financials at 13.76%.The fund's expense ratio is 4.84% (1.31% ex-leverage), reflecting significant leverage and active management.Looking for more investing ideas like this one? Get them exclusively at Trade With Beta. Learn More » gremlin/E+ via Getty Images In this article, we will look at Virtus Convertible & Income Fund (NCV) and the opportunities that its preferred stock (NCV.PR.A) provides to us. (We last reviewed it in August.) NCV Basic Information Total Net This article was written byArbitrage Trader15.5K FollowersFollowArbitrage Trader, aka Denislav Iliev has been day trading for 15+ years and leads a team of 40 analysts. They identify mispriced investments in fixed-income and closed-end funds based on simple-to-understand financial logic. Denislav leads the investing group Trade With Beta, features of the service include: frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of 1200+ equities, IPO previews, hedging strategies, an actively managed portfolio, and chat for discussion. Learn more.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.