Virtus Convertible & Income Fund II (NCZ) and Virtus Convertible & Income Fund (NCV) hold nearly identical portfolios but trade at significantly different discounts to NAV, with NCZ at a 9.51% discount and NCV at a 12.13% discount. This gap is about two standard deviations above their one-year average, presenting an opportunity for investors to rotate from NCZ to NCV for similar exposure at a lower valuation. Advanced investors might also profit by shorting NCZ and going long on NCV to capture the spread, net of borrowing costs. The high correlation in NAV movements between the two funds supports this strategy.
The story about the Virtus Convertible Twins trading unusually far apart provides context for readers following US stocks on Pluang. For readers following US stocks, here is Pluang's market snapshot as of Oct 09, 2026 03:02 WIB: out of 150 priced US stocks, 80 rose and 70 fell. LYFT rose 3.59% to USD 16.16 with 100% buy order activity and a typical hold time of 47 days, contrasting with MRVL which fell 3.57% to USD 274.52 and had a mixed order activity of 44% sell and 56% buy. NIO also declined 3.53% to USD 3.42 with 88% sell order activity and a longer hold time of 81 days.
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