Virtus Convertible & Income Fund II Postpones Monthly Distribution on Common Shares
HARTFORD, Conn., July 1, 2022 /PRNewswire/ -- Virtus Convertible & Income Fund II (NYSE: NCZ), a closed-end fund, today announced that it has postponed payment of its monthly distribution of
Recent market dislocations have caused the values of the Fund's portfolio securities to decline and, as a result, the Fund's asset coverage ratio for total leverage as of June 30, as calculated in accordance with the Investment Company Act of 1940, was below the
About the Fund
Virtus Convertible & Income Fund II has an investment objective to provide total return through a combination of capital appreciation and high current income. Virtus Investment Advisers, Inc. is the investment adviser of the fund and Allianz Global Investors manages the fund in a subadvisory capacity. For more information, contact shareholder services at 866-270-7788, by email at closedendfunds@virtus.com, or through the closed-end fund section of www.virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about each fund's investment objective and risks, please see the fund's annual report. A copy of the fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.
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SOURCE Virtus Convertible & Income Fund II