The stock of Allianzgi Convertible & Income F (NYSE:NCV) registered a decrease of 34.07% in short interest. NCV’s total short interest was 566,600 shares in September as published by FINRA. Its down 34.07% from 859,400 shares, reported previously. With 225,200 shares average volume, it will take short sellers 3 days to cover their NCV’s short positions. About 217,865 shares traded hands. Allianzgi Convertible & Income Fund (NYSE:NCV) has risen 39.45% since February 8, 2016 and is uptrending. It has outperformed by 22.96% the S&P500.
AllianzGI Convertible & Income Fund, formerly AGIC Convertible & Income Fund, is a diversified, closed-end management investment company. The company has a market cap of $574.70 million. The Fund’s investment objective is to provide total return through a combination of capital appreciation and high current income. It currently has negative earnings. The Fund invests in a diversified portfolio of domestic convertible securities and non-convertible high-yield bonds rated below investment grade.
The institutional sentiment decreased to 0.68 in Q2 2016. Its down 0.29, from 0.97 in 2016Q1. The ratio dropped, as 17 funds sold all Allianzgi Convertible & Income Fund shares owned while 17 reduced positions. 7 funds bought stakes while 16 increased positions. They now own 11.08 million shares or 44.31% less from 19.90 million shares in 2016Q1.
Robinson Capital Management Llc holds 1.09% of its portfolio in Allianzgi Convertible & Income Fund for 305,874 shares. E&G Advisors Lp owns 171,480 shares or 0.64% of their US portfolio. Moreover, Vident Investment Advisory Llc has 0.56% invested in the company for 646,800 shares. The Texas-based Doliver Capital Advisors Inc. has invested 0.16% in the stock. Sit Investment Associates Inc, a Minnesota-based fund reported 757,755 shares.
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