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.

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

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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

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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

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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

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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

Virtus AllianzGI Diversified Income & Convertible Fund

Virtus Artificial Intelligence & Technology Opportunities Fund

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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

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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)