Virtus Convertible & Income Fund II (NCZ)
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NCZ's Preferred Stock: Investment Grade Income With 6.8% Current Yield
Virtus Convertible & Income Fund II offers a high-yield preferred stock with a 6.8% current yield and 'A' Fitch rating. NCZ.PR.A trades below par, is already callable, and leads peers in yield among A-rated CEF preferreds, providing capital protection for conservative investors. NCZ's dividend yield is 9.33% and trade at a 10% discount to NAV, but it faces risks from high leverage (32%) and elevated expense ratios.
Pass On Virtus Convertible & Income Fund II, The Alpha Is In Its Preferred
Virtus Convertible & Income Fund II preferred stock offers a compelling opportunity with an 'A' Fitch rating and a 6.77% yield. Dividend and asset coverage ratios are robust, with preferred payments well covered and asset coverage at 285%, well above regulatory minimums. NCZ-A stands out among A-rated CEF preferreds for its superior current yield and deep discount to par, providing capital appreciation potential.
Virtus Convertible & Income Fund II (NYSE:NCZ) Share Price Passes Above 200-Day Moving Average – Here’s Why
Virtus Convertible and Income Fund II (NYSE: NCZ - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $14.06 and traded as high as $14.28. Virtus Convertible and Income Fund II shares last traded at $14.0510, with a volume of 63,492
