Virtus AllianzGI Convertible & Income Fund II

Virtus AllianzGI Convertible & Income Fund II operates as a closed-end fund, which seeks to provide total return through a combination of capital appreciation and high current income. It invests in a diversified portfolio of domestic convertible securities and non-convertible high-yield bonds rated below investment grade. The company was founded on April 22, 2003 and is headquartered in New York, NY.

Virtus AllianzGI Convertible & Income Fund II operates as a closed-end fund, which seeks to provide total return through a combination of capital appreciation and high current income. It invests in a diversified portfolio of domestic convertible securities and non-convertible high-yield bonds rated below investment grade. The company was founded on April 22, 2003 and is headquartered in Greenfield, MA.

Western Asset Mortgage Opportunity Fund

Invesco High Income 2023 Target Term Fund

Virtus AllianzGI Convertible & Income Fund

Western Asset Diversified Income Fund

We review CEF market valuation and performance through the second week of November and highlight recent market action. CEFs had a strong week with all sectors finishing in the green on the back of a downside inflation surprise.

CEF Weekly Review: Can We Expect CEF Prices To Come Back?

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Eagle Capital Growth Fund Inc

Gabelli Utility Trust

John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund

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Macquarie Global Infrastructure Total Return Fund Inc

Tortoise Energy Independence Fund, Inc.

Nuveen Missouri Quality Municipal Income Fund

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RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Oxford Lane Capital

PCM Fund

Pimco California Municipal Income Fund

Pimco Municipal Income Fund II

Pimco California Municipal Income Fund III

RiverNorth Opportunities Fund, Inc.

Tortoise Power and Energy Infrastructure Fund

Tortoise Pipeline & Energy Fund

Tortoise Energy Infrastructure

Virtus Total Return Fund

12 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. Tortoise offer tender results.

Weekly Closed-End Fund Roundup: Tortoise Tender Results, NCZ Resumes Distributions (November 6, 2022)

NCZ has suspended, and resumed, distributions. Both NCV and NCZ have deleveraged by redeeming their ARPS.

NCZ: Distribution Suspension And Resumption Creates Swap Opportunity With NCV

NCZ declares October distribution; starts process to pay  previously declared common share distribution HARTFORD, Conn. , Nov. 3, 2022 /PRNewswire/ -- Virtus Convertible & Income Fund (NYSE: NCV) and Virtus Convertible & Income Fund II (NYSE: NCZ) (each, a "Fund" and, together, the "Funds"), today announced final results for each Fund's voluntary tender offer (each, a "Tender Offer" and, together, the "Tender Offers") for up to 100% of its outstanding auction rate preferred shares ("ARPS").

Virtus Convertible & Income Fund, Virtus Convertible & Income Fund II Announce Final Results of ARPS Tender Offers

BlackRock Taxable Municipal Bond Trust

Central and Eastern Europe Fund

Doubleline Opportunistic Credit Fund

Stone Harbor Emerging Markets Total Income Fund

European Equity Fund

Eagle Point Income Company Inc

Eaton Vance Short Duration Diversified Income Fund

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust

Gabelli Convertible and Income Securities Fund

Gabelli Multimedia Trust

Gabelli Global Utility & Income Trust

John Hancock Hedged Equity & Income Fund

New Ireland Fund Inc

Madison Fund

Putnam Municipal Opportunities Trust

Cohen And Steers Total Return Realty Fund

Franklin Templeton Emerging Markets Income Fund

16 out of 23 CEF sectors positive on price and 12 out of 23 sectors positive on NAV last week. Watch for overvalued CEFs as market volatility rises.

Weekly Closed-End Fund Roundup: Tortoise Tender Offers Expiring (October 23, 2022)

John Hancock Financial Opportunities Fund

Virtus Stone Harbor Emerging Markets Income Fund 

Eaton Vance Tax-Advantaged Global Dividend Income Fund

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

Gabelli Equity Trust

Nuveen Arizona Quality Municipal Income Fund

Nuveen Municipal Credit Opportunities Fund

Putnam High Income Securities Fund

Columbia Seligman Premium Technology Growth Func Inc

Delaware Investments

0 out of 23 CEF sectors are positive on price and 0 out of 23 sectors are positive on NAV over the last week. BlackRock CEFs are repurchasing their shares.

Weekly Closed-End Fund Roundup: BlackRock CEFs Repurchasing Shares (October 16, 2022)

AllianceBernstein Global High Income Fund Inc

Angel Oak Financial Strategies Income Term Trust

SPDR Bloomberg High Yield Bond ETF

We review CEF market valuation and performance through the first week of October and highlight recent market action. The CEF space was up on the week, led by higher-beta sectors.

CEF Weekly Review: Be Careful When Evaluating Long-Term Performance

HARTFORD, Conn. , Oct. 12, 2022 /PRNewswire/ -- Virtus Convertible & Income Fund II (NYSE: NCZ), a closed-end fund, today announced that it has postponed the record and ex-dividend dates for payment of its monthly distribution of $0.0375 per common share that was scheduled to be paid on November 1, 2022 to shareholders of record on October 13, 2022.

Virtus Convertible & Income Fund II Postpones Record and Ex-Dividend Dates for Monthly Distribution on Common Shares

NCZ postpones its distribution (again). This was due to it falling below minimum asset coverage requirements.

NCZ Postpones Its Distribution (Again)

HARTFORD, Conn. , Oct. 3, 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 $0.0375 per common share that was scheduled to be paid on October 3, 2022 to shareholders of record as of September 12, 2022, and has postponed declaration of its monthly distribution of $0.0375 per common share that was scheduled to be declared on October 3, 2022 for payment on November 1, 2022.

Virtus Convertible & Income Fund II Postpones Monthly Distribution on Common Shares

Advent Convertible and Income Fund

Eagle Point Credit

Eaton Vance Limited Duration Income Fund

PIMCO Income Strategy Fund II

Virtus Global Multi-Sector Income Fund

XAI Octagon Floating Rate & Alternative Income Term Trust

Using strategies that incorporate high-yield bonds or collateralized loan obligations, some funds have outpaced inflation. They're worth a look.

10 Funds That Beat Inflation and Offer Steady Monthly Income, With Some Risk

BlackRock MuniVest Fund Inc

Neuberger Berman High Yield Strategies Fund Inc

Nuveen Municipal Credit Income Fund

Invesco Municipal Income Opportunities Trust

Putnam Master Intermediate Income Trust

Invesco Bond Fund

Vertical Capital Income Fund.

CEF NAVs took a big hit in June and continue to show downward trends as they have for most of this year. That trend is driven by wider spreads. Discounts have tightened a bit in recent weeks and are basically saying that a recession is not imminent. If a recession comes, much wider discounts are likely.

CEF Report July 2022: Not Safe To Tread In Taxables Just Yet

NCZ recently suspended its distribution, though it ended up paying it shortly after. We discuss some of the reasons behind this unusual, though not very surprising, event.

NCZ: Q&A About The Fund's Distribution Suspension

Virtus AllianzGI Diversified Income & Convertible Fund

Virtus Artificial Intelligence & Technology Opportunities Fund

Virtus AllianzGI Convertible & Income 2024 Target Term Fund

Virtus Dividend Interest & Premium Strategy Fund

Virtus AllianzGI Equity & Convertible Income Fund

No Change to Portfolio Management Teams HARTFORD, Conn. , July 21, 2022 /PRNewswire/ -- The Board of Trustees of Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH), Virtus Convertible & Income Fund (NYSE: NCV), Virtus Convertible & Income Fund II (NYSE: NCZ), Virtus Diversified Income & Convertible Fund (NYSE: ACV), Virtus Equity & Convertible Income Fund (NYSE: NIE), and Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) has approved new subadvisory agreements between the funds' investment adviser, Virtus Investment Advisers, Inc., and Voya Investment Management Co. LLC ("Voya IM").

Certain Virtus Closed-End Funds Announce Shareholder Proposal For New Subadvisory Agreements

Leverage can add a lot to a closed-end fund's income, by taking advantage of cheap (sometimes very cheap) interest rates available to large institutional investors. But it has its downside risks, as we saw July 1st when Virtus Capital & Income Fund II had to delay its dividend payment and put next month's on hold.

NCZ's Embarrassing 'Postponed' Distribution

HARTFORD, Conn. , July 8, 2022 /PRNewswire/ -- Virtus Convertible & Income Fund II (NYSE: NCZ), a closed-end fund, announced today that it will begin to process its monthly distribution of $0.0375 per common share, which was previously scheduled to be paid on July 1 to shareholders of record as of June 13, 2022.

Virtus Convertible & Income Fund II Announces Payment of Previously Declared Monthly Common Share Distribution; Reconfirms August 1 Distribution

HARTFORD, Conn. , June 1, 2022 /PRNewswire/ -- Virtus AllianzGI Convertible & Income Fund II (NYSE: NCZ), announced today that it has declared a $0.34375 per share cash distribution payable on June 30, 2022 to Series A cumulative preferred shareholders of record on June 13, 2022.

VIRTUS ALLIANZGI CONVERTIBLE & INCOME FUND II DECLARES QUARTERLY DISTRIBUTION: 5.500% SERIES A CUMULATIVE PREFERRED SHARES

The AllianzGI Convertible & Income Fund II primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade. While some Virtus AllianzGI FI funds include equities, investors liking the manager should consider their other funds before NCZ.  A list is provided at the end of this article.

NCZ: Virtus AllianzGI Is Not Doing Well Here

Apollo Tactical Income Fund, Inc.

Ares Dynamic Credit Allocation Fund

GDL Fund

Nuveen Mortgage Opportunity Term Fund

BNY Mellon Strategic Municipals, Inc.  

Nuveen Quality Municipal Income Fund

Cohen & Steers Reit And Preferred Income Fund Inc

We review CEF market valuation and performance through the last week of March and highlight recent market action.

CEF Weekly Review: Rates Are Up, Why Are My Loan CEFs Down

NCZ and its sister fund NCV share many similarities as convertible and high-yield bond investing funds.

NCZ: Higher Yield And Attractively Discounted, But Some Concerns

Virtus Investment Partners

HARTFORD, Conn., Dec. 1, 2021 /PRNewswire/ --  Virtus AllianzGI Convertible & Income Fund II (NYSE: NCZ),  announced today that it has declared a $0.34375 per share cash distribution payable on December 31, 2021 to Series A cumulative preferred shareholders of record on December 13, 2021.

Virtus AllianzGI Convertible & Income Fund II Declares Quarterly Distribution: 5.500% Series A Cumulative Preferred Shares

Delaware Investments Colorado Municipal Income Fund Inc

Delaware Investments Minnesota Municipal Income Fund II Inc

We review CEF market valuation and performance over the second week of November and highlight recent market events. Discounts mostly rallied this week despite broadly lower NAVs due to rising Treasury yields and lower stocks.

CEF Weekly Market Review: CEF Market Pushes Through Inflation Scare

Quadratic Interest Rate Volatility and Inflation ETF

We review CEF market valuation and performance over the first week of November and highlight recent market events. November so far delivered NAV gains across all CEF sectors - an unusual occurrence - due to the rally in both stocks and treasuries.

CEF Weekly Market Review: CEF Hedges Often Promise More Than They Deliver

John Hancock Tax-Advantaged Dividend Income Fund

Pimco California Municipal Income Fund II

John Hancock Premium Dividend Fund

Steadily lower yields and heightened volatility make relative value opportunities an attractive alpha generation strategy in CEFs.

Relative Value CEF Opportunities: More Alpha In A Less Beta Environment

Kayne Anderson Midstream/Energy Fund Inc.

Royce Micro-Cap Trust

High fear sentiment is showing us that this mini-correction is probably close to completion.

3 Dirt-Cheap Funds Yielding Up To 8.4%

News for Virtus AllianzGI Convertible & Income Fund II ETF (NCZ)