Virtus AllianzGI Convertible & Income Fund II: insider trades · United States · SEC (Form 4)

About Virtus AllianzGI Convertible & Income Fund II

Virtus Convertible & Income Fund II (NYSE: NCZ) is a U.S.-listed closed-end fund traded on the NYSE, designed for investors seeking exposure to convertible securities and income-generating instruments. The fund is organized in the United States and is closely associated with Virtus Investment Partners, whose headquarters are in Hartford, Connecticut. It was originally launched as AllianzGI Convertible & Income Fund II and was renamed in June 2022 as part of a broader Virtus branding transition for closed-end funds previously subadvised by Allianz Global Investors. ([ir.virtus.com](https://ir.virtus.com/news/news-details/2022/Virtus-Closed-End-Funds-Announce-Fund-Name-Changes-/default.aspx?utm_source=openai)) NCZ’s stated investment objective is to provide total return through a combination of capital appreciation and high current income. In practical terms, the fund seeks this profile by investing, under normal circumstances, at least 80% of net assets plus borrowings for investment purposes in a mix of equity securities and income-producing convertible securities. That structure is important: convertibles can offer equity-like upside if the issuer performs well, while also providing bond-like income and downside characteristics relative to common equity. The fund is subadvised by Voya Investment Management, giving it access to a specialized U.S. manager with experience in income and growth strategies. ([ir.virtus.com](https://ir.virtus.com/news/news-details/2025/Four-Virtus-Closed-End-Funds-Add-Portfolio-Manager/default.aspx?utm_source=openai)) From a market-positioning standpoint, NCZ occupies a niche within the U.S. closed-end fund universe. It is not a broad market product; rather, it is a specialized income-oriented solution for investors who want professionally managed access to convertible securities, high-yielding instruments, and a managed distribution framework. That niche positioning can make the fund attractive in periods when investors are looking for yield, diversification, and participation in upside from equity-linked credit structures. The fund also maintains a more complex capital structure than a plain-vanilla mutual fund, including NYSE-listed Series A cumulative preferred shares, which underscores its use of leverage and income-enhancement tools. ([ir.virtus.com](https://ir.virtus.com/news/news-details/2023/Virtus-Convertible--Income-Fund-and-Virtus-Convertible--Income-Fund-II-Announce-Private-Placement-of-Mandatory-Redeemable-Preferred-Shares/default.aspx?utm_source=openai)) Recent notable developments include a 1-for-4 reverse stock split approved for the common shares in February 2025, effective around the start of trading on February 10, 2025, and ongoing monthly distributions on the common shares. In September 2025, Virtus announced that K. Mathew Axline was added as a portfolio manager across several closed-end funds including NCZ, which may be read as an incremental governance and portfolio-management update rather than a strategic overhaul. The fund also continued quarterly distributions on its preferred shares during 2025. Overall, NCZ remains a specialized NYSE-listed U.S. closed-end fund with a convertibles-and-income mandate, a Hartford-based sponsor, and a strategy aimed at balancing current income with capital appreciation. ([ir.virtus.com](https://ir.virtus.com/news/news-details/2024/NCV-NCZ-Announce-Reverse-Stock-Splits-and-Monthly-Distributions/default.aspx?utm_source=openai))