NCV, NCZ Announce Reverse Stock Splits and Monthly Distributions
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Virtus Convertible & Income Fund (NCV) and Virtus Convertible & Income Fund II (NCZ) announced a 1-for-4 reverse stock split effective February 10, 2025. The funds will trade on a split-adjusted basis with new CUSIPs starting on the effective date.
November 20, 2024 | 10:00 pm
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NEUTRAL IMPACT
Virtus Convertible & Income Fund (NCV) will undergo a 1-for-4 reverse stock split effective February 10, 2025, which may impact its stock price and trading volume.
The reverse stock split will reduce the number of shares outstanding, potentially increasing the stock price per share. However, it does not change the market value of the fund, making the short-term impact on stock price neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Virtus Convertible & Income Fund II (NCZ) will undergo a 1-for-4 reverse stock split effective February 10, 2025, which may impact its stock price and trading volume.
The reverse stock split will reduce the number of shares outstanding, potentially increasing the stock price per share. However, it does not change the market value of the fund, making the short-term impact on stock price neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100