Welcome to our dedicated page for Virtus Cnvtbl news (Ticker: CBH), a resource for investors and traders seeking the latest updates and insights on Virtus Cnvtbl stock.
Virtus Convertible & Income 2024 Target Term Fund (CBH) operates as a closed-end fund specializing in convertible securities and income-producing investments. As a target term fund with a defined liquidation date, CBH's news coverage typically focuses on distribution announcements, net asset value performance, premium or discount trends, and portfolio allocation updates. Investors tracking this fund benefit from monitoring disclosure documents that detail portfolio composition changes and management commentary on market conditions affecting convertible securities.
News coverage for closed-end funds like CBH often includes monthly or quarterly distribution declarations, which impact yield calculations and investor returns. Understanding how the fund's market price relates to its net asset value provides context for evaluating news about discount narrowing or premium expansion. Given the target term structure, announcements regarding the liquidation timeline and portfolio positioning as the termination date approaches carry particular significance for shareholders.
This news page aggregates updates relevant to CBH shareholders, including regulatory filings, distribution announcements, and market developments affecting convertible securities and fixed-income markets. Whether you follow the fund for income generation or total return potential, staying informed about portfolio adjustments and management updates helps you understand how the fund navigates changing credit conditions and equity market volatility.
Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has completed its termination and liquidation on August 30, 2024. The Fund's final net asset value (NAV) was $9.2342 per common share, with liquidation proceeds paid to shareholders on September 4, 2024. Launched on June 29, 2017, the Fund paid total distributions of $4.2152 per share, representing an average annual distribution rate of 6.36% on the final NAV. The annualized total return for initial investors was 5.34% based on NAV and 5.26% based on market price. Shareholders may recognize gains or losses for tax purposes and are advised to consult tax advisors regarding potential tax liabilities from the liquidation proceeds.
The Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has announced additional details about its planned liquidation. The final trading day for the Fund on the New York Stock Exchange will be August 26, 2024. Post this date, there will be no secondary market for the Fund’s shares. The liquidation will occur after the close of business on August 30, 2024, with liquidation proceeds paid around September 4, 2024, based on shareholders’ holdings as of the Termination Date.
The Fund's final monthly distribution was declared on March 1, 2024, amounting to $0.027, payable on June 27, 2024. Shareholders are advised to consult their tax advisors regarding any tax liabilities from the liquidation proceeds. The tax-related details for the distributions will be provided through Form 1099-DIV sent by the Fund or brokers.
Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has announced a special year-end distribution of $0.0909 per share in long-term capital gains, in addition to its regular monthly distribution. This distribution is mandated by federal tax requirements and will be effective on December 29, 2022. The record date is set for December 30, 2022, with payments to be made on January 10, 2023. The Fund aims to provide a high level of income and return at least $9.835 per share by September 1, 2024.
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