Form 4: Virtus Convertible & Income Fund II Director Acquires Shares in Open Market Purchase

Connie D. McDaniel, a Director of Virtus Convertible & Income Fund II (NCZ), has acquired 422 shares of common stock through an open market transaction.

Summary

• Connie D. McDaniel, a Director of Virtus Convertible & Income Fund II (NCZ), purchased 422 shares of the company's common stock.
• The transaction occurred on June 17, 2025, at a weighted average price of $12.307 per share.
• The shares were acquired in multiple transactions with prices ranging from $12.305 to $12.312 per share.
• Following this transaction, Connie D. McDaniel directly beneficially owns 422 shares of common stock.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as a director's purchase of company stock typically indicates confidence in the company's valuation and future performance, especially when executed under a Rule 10b5-1 plan.

Positives

• A director's purchase of company stock can signal confidence in the company's future prospects and valuation.
• The transaction was conducted under a Rule 10b5-1(c) plan, indicating a pre-planned and systematic approach to stock acquisition.

Risks

• The Form 4 filing itself does not detail specific company risks; however, holding common stock inherently carries market risk and investment risk.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This Form 4 filing reflects a routine insider transaction, common across publicly traded companies, where a director or officer acquires or disposes of company securities. Such transactions are closely watched by investors for signals regarding management's confidence in the company's prospects.

Related Party Transactions

• The acquisition of common stock by Connie D. McDaniel, a Director of Virtus Convertible & Income Fund II, constitutes a related party transaction as it involves an insider of the company.

Stakeholder Impact

• Shareholders may view the director's purchase as a positive signal, potentially increasing investor confidence in the company's stock.
• The transaction demonstrates continued alignment of interests between the director and other shareholders.

Key Dates

Keywords

Virtus Convertible & Income Fund II, NCZ, SEC Form 4, Insider Trading, Stock Purchase, Director, Connie D. McDaniel, Investment Fund, Closed-End Fund