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.

Apollo Tactical Income Fund, Inc.

MFS High Yield Municipal Trust

Eagle Point Income Company Inc

PIMCO Corporate & Income Opportunity Fund

We review CEF market valuation and performance over the first short week of September and highlight recent market events. Discounts continue to move sideways even as NAVs keep edging higher.

CEF Weekly Market Review: Happens To The Best Of Us

The last two years have seen sharp moves in interest rates across the entire yield curve, causing significant shifts in CEF income. We discuss the various channels through which changes in interest rates can affect CEF income.

What CEF Investors Should Know About Interest Rates

Virtus AllianzGI Diversified Income & Convertible Fund

Virtus Artificial Intelligence & Technology Opportunities Fund

Virtus AllianzGI Convertible & Income 2024 Target Term Fund

Virtus AllianzGI Convertible & Income Fund

Virtus Investment Partners

HARTFORD, Conn., Aug. 3, 2021 /PRNewswire/ -- Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), Virtus AllianzGI Convertible & Income Fund (NYSE: NCV), Virtus AllianzGI Convertible & Income Fund II (NYSE: NCZ), Virtus AllianzGI Convertible & Income 2024 Target Term Fund (NYSE: CBH), and Virtus AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) announced the following distribution declarations on their respective common shares: Fund Distribution Per Common Share Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund $0.1250 Virtus AllianzGI Convertible & Income Fund $0.0425 Virtus AllianzGI Convertible & Income Fund II $0.0375 Virtus AllianzGI Convertible & Income 2024 Target Term Fund $0.0460 Virtus AllianzGI Diversified Income & Convertible Fund $0.1670 The distributions, declared August 2, 2021, will be payable on September 1, 2021 to shareholders of record on August 12, 2021 with an ex-dividend date of August 11, 2021.

Certain Virtus Closed-End Funds Declare Monthly Distributions: AIO, NCV, NCZ, CBH, and ACV

Virtus Dividend Interest & Premium Strategy Fund

Virtus AllianzGI Equity & Convertible Income Fund

HARTFORD, Conn., July 16, 2021 /PRNewswire/ -- Allianz Global Investors U.S. LLC (AllianzGI), which manages certain Virtus closed-end funds in a subadvisory capacity, announced that as of March 1, 2022 Douglas G.

Certain Virtus AllianzGI Closed-End Funds Announce Future Change In Portfolio Management Team

J.P. Morgan Alerian MLP Index ETN

MFS Investment Grade Municipal Trust

First Trust Senior Floating Rate Income Fund II

John Hancock Tax-Advantaged Dividend Income Fund

John Hancock Tax-Advantaged Global Shareholder Yield Fund

Nuveen Mortgage Opportunity Term Fund

Kayne Anderson Midstream/Energy Fund Inc.

Kayne Anderson MLP Investment

Reaves Utility Income Fund

VanEck CEF Municipal Income ETF 

We review CEF market valuation and performance over the past week and highlight recent events. We discuss news and market action across a number of funds such as FCT, UTG, KYN, KMF, RTAI, and others.

CEF Weekly Market Review: Another Strong Month

DoubleLine Income Solutions Fund

BlackRock MuniYield Quality Fund III Inc

Nuveen Build America Bond Fund

PIMCO Dynamic Income Opportunities Fund

With valuations tightening and a number of risks on the radar, it makes sense to take a margin-of-safety approach to income portfolios. A number of CEF strategies can provide additional margin-of-safety without necessarily reducing income.

Margin Of Safety CEF Opportunities

NCZ pays a distribution of 3.75 cents a month (for an 8.75% yield). Attractive if it can support it. NAV performance over the last 3 years has been good, but not so good over the last 10.

Evaluating CEFs: NCZ Is At A Large Discount

Ares Dynamic Credit Allocation Fund

BlackRock Municipal 2030 Target Term Trust

Credit Suisse Asset Management Income Fund

Western Asset Global Corp Defined Opportunity Fund Inc

Nuveen Select Tax-Free Income Portfolio 3

As Q1 comes to an end, we take a look at the performance of the CEF market year-to-date. We also take a look at the key drivers of CEF discounts going forward.

CEF Market Update

Blackstone/GSO Senior Floating Rate Term Fund

Western Asset Mortgage Opportunity Fund

Nuveen Preferred & Income Opportunities Fund

BlackRock MuniVest Fund Inc

Nuveen Municipal Credit Opportunities Fund

The CEF market has put in very strong returns in the few months since our last update. We discuss some of the key themes driving the CEF market in the medium term.

Key Themes Of The CEF Market

NCZ is a Virtus AllianzGI closed-end fund that invests in two underlying asset classes - convertibles and high yield bonds rated below investment grade. The fund used preferred stock for its 38% leverage.

NCZ: Provides Exposure To Convertibles And High Yield Bonds And Trades At An Attractive Discount

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

PIMCO Dynamic Credit and Mortgage Income Fund

PCM Fund

PIMCO Corporate & Income Strategy Fund

PIMCO Income Strategy Fund

PIMCO Income Strategy Fund II

Pimco Global Stockplus & Income Fund

Pimco High Income Fund

Pimco Income Opportunity Fund

We take a look at the PIMCO CEF leverage and coverage numbers for December. Overall, December was a pretty good month for shareholders as coverage increased across the board, NAV gains exceeded distributions while PIMCO took aggregate leverage lower to reflect less attractive valuations.

December Taxable PIMCO CEF Update

NEW YORK--(BUSINESS WIRE)--AllianzGI Convertible & Income Fund II (the "Fund") (NYSE:NCZ), a diversified closed-end management investment company which seeks to provide total return through a combination of capital appreciation and high current income, today announced its results for the fiscal quarter and nine months ended November 30, 2020. At November, 2020   2019 Net Assets (a) $674,562,727 $656,769,319 Common Shares Outstanding 76,115,749 76,073,659 Net Asset Value ("NAV") $5.30 $5.06

AllianzGI Convertible & Income Fund II Reports Results for the Fiscal Quarter and Nine Months Ended November 30, 2020

Advent Convertible and Income Fund

Bancroft Fund Ltd

Calamos Dynamic Convertible & Income Fund

Calamos Convertible Opportunities And Income Fund

Calamos Convertible And High Income Fund

SPDR Bloomberg Convertible Securities ETF

Ellsworth Growth and Income Fund

iShares Convertible Bond ETF

Putnam High Income Securities Fund

The convertibles sector had a tremendous 2020 on the back of a number of tailwinds such as outperformance in its sector tilts, high volatility, and falling rates. We take a look at the different options for investors in the sector across both open-end and closed-end funds.

Convertibles CEF Sector Update

NEW YORK--(BUSINESS WIRE)--AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), AllianzGI Convertible & Income 2024 Target Term Fund (NYSE: CBH), AllianzGI Convertible & Income Fund (NYSE: NCV), AllianzGI Convertible & Income Fund II (NYSE: NCZ), AllianzGI Diversified Income & Convertible Fund (NYSE: ACV), AllianzGI Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) and AllianzGI Equity & Convertible Income Fund (NYSE: NIE), (each a “Fun

AllianzGI Closed-End Funds Provide Additional Information on Fund Name Changes

NEW YORK--(BUSINESS WIRE)--AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), AllianzGI Convertible & Income 2024 Target Term Fund (NYSE: CBH), AllianzGI Convertible & Income Fund (NYSE: NCV), AllianzGI Convertible & Income Fund II (NYSE: NCZ), AllianzGI Diversified Income & Convertible Fund (NYSE: ACV), AllianzGI Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) and AllianzGI Equity & Convertible Income Fund (NYSE: NIE) (each a “Fund

AllianzGI Closed-End Funds Announce Fund Name Changes

NEW YORK--(BUSINESS WIRE)--The Boards of Trustees of AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO), AllianzGI Convertible & Income Fund (NYSE: NCV), AllianzGI Convertible & Income Fund II (NYSE: NCZ), AllianzGI Convertible & Income 2024 Target Term Fund (NYSE: CBH), and AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) (each a “Fund” and, collectively, the “Funds”) announced today that they have declared the following distributions o

AIO, NCV, NCZ, CBH and ACV Declare Monthly Distributions

NEW YORK--(BUSINESS WIRE)--AllianzGI Convertible & Income Fund (NYSE: NCV) and AllianzGI Convertible & Income Fund II (NYSE: NCZ) (each a “Fund” and, collectively, the “Funds”) today announced that the Funds' Boards of Trustees have approved a repurchase plan (the “Repurchase Plan”) with respect to the outstanding series A cumulative preferred shares (“CPS”) for each of NCV (NYSE: NCV PR A) and NCZ (NYSE: NCZ PR A), in an attempt to provide portfolio managers with an additional tool to

AllianzGI Convertible & Income Fund and AllianzGI Convertible & Income Fund II Announce Cumulative Preferred Share Repurchase Plan

NEW YORK--(BUSINESS WIRE)--The Board of Trustees of AllianzGI Convertible & Income Fund II (NYSE: NCZ) announced today they have declared a $0.34375 per share cash distribution payable on December 31, 2020 to Series A cumulative preferred shareholders of record on December 11, 2020. The Series A Cumulative Preferred Shares, which trade on the New York Stock Exchange under the symbol NCZ PR A are rated “AAA' by Fitch Ratings and have an annual dividend rate of $1.375 per share. The 4,360,000

AllianzGI Convertible & Income Fund II Declares Quarterly Distribution - 5.50% Series A Cumulative Preferred Shares

  AIO, NCV, NCZ, CBH, ACV Declare Monthly Distributions

NEW YORK--(BUSINESS WIRE)--AllianzGI Convertible & Income Fund II (the "Fund") (NYSE:NCZ), a diversified closed-end management investment company which seeks to provide total return through a combination of capital appreciation and high current income, today announced its results for the fiscal quarter and six months ended August 31, 2020. At August 31,   2020 2019 Net Assets (a) $642,001,093 $653,293,223 Common Shares Outstanding 76,115,749 75,927,490 Net Asset Value ("NAV") $4.87 $5.03 Ma

AllianzGI Convertible & Income Fund II Reports Results for the Fiscal Quarter and Six Months Ended August 31, 2020

NEW YORK--(BUSINESS WIRE)--AllianzGI Convertible & Income Fund II (the "Fund") (NYSE:NCZ), a diversified closed-end management investment company which seeks to provide total return through a combination of capital appreciation and high current income, today announced its results for the fiscal quarter ended May 31, 2020. At May 31   2020 2019 Net Assets (a) $587,258,202 $639,567,823 Common Shares Outstanding 76,115,749 75,766,779 Net Asset Value ("NAV") $4.15 $4.86 Market Price $3.72 $4.86

AllianzGI Convertible & Income Fund II Reports Results for the Fiscal Quarter Ended May 31, 2020

Ault Global Holdings

Gabelli Equity Trust

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust

Most folks think retiring on $527K is a dream—but most folks haven’t heard of high-yield closed end funds (CEFs).

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