SCHEDULE: Advisors Asset Management Discloses 5.29% Stake

Advisors Asset Management, Inc. has disclosed a 5.289% beneficial ownership stake in Virtus Convertible & Income Fund II common stock.

Summary

• Advisors Asset Management, Inc. (AAM) has filed a Schedule 13G, indicating beneficial ownership of 1,006,400 shares of Virtus Convertible & Income Fund II common stock.
• This stake represents 5.289% of the class of securities.
• AAM holds sole voting power and sole dispositive power over all 1,006,400 shares.
• The filing was made under Rule 13d-1(b), classifying AAM as a broker or dealer and an investment adviser.
• AAM acts as a sponsor for several unit investment trusts that hold shares of the issuer, but no single trust holds 5% or more of the common stock.
• AAM disclaims beneficial ownership of the shares identified in this filing, stating they were acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: This is a neutral filing, primarily a disclosure of beneficial ownership without any specific positive or negative implications for the issuer's operations or financial health. It reflects a passive investment position.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the issuer's future performance or AAM's investment strategy beyond the passive nature of the disclosed stake.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This Schedule 13G filing is a routine disclosure by an institutional investor, Advisors Asset Management, Inc., indicating a passive ownership stake above 5% in Virtus Convertible & Income Fund II, a closed-end fund. Such filings provide transparency into significant ownership positions, which is standard practice in the investment management industry for compliance and market awareness.

Related Party Transactions

• Advisors Asset Management, Inc. is the sponsor of several unit investment trusts which hold shares of common stock of the issuer. No single unit investment trust sponsored by Advisors Asset Management, Inc. holds 5% or more of the issuer's common stock. Advisors Asset Management, Inc. disclaims beneficial ownership of such shares.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's passive stake, confirming a large investor's position without intent to influence control.
• Management: Awareness of a substantial, passive institutional investor in the company's common stock.

Key Dates

Keywords

Virtus Convertible & Income Fund II, Advisors Asset Management, Schedule 13G, Beneficial Ownership, Common Stock, Investment Adviser, Broker Dealer, Closed-End Fund