The Virtus Equity & Convertible Income Fund (NIE) is experiencing downward pressure due to a combination of factors affecting its underlying assets. As of December 23, 2024, the broader market is navigating a shortened trading week leading up to Christmas, which often results in lower trading volumes and increased volatility. European markets have shown some resilience, with stocks edging higher, but the U.S. markets are facing mixed signals. Treasury yields have slightly increased, indicating a cautious sentiment among investors as they assess the economic landscape. Additionally, the ongoing geopolitical tensions and economic uncertainties, such as the U.S. probe into Chinese chips and the flatlining of Britain's economy in Q3, are contributing to a risk-averse environment.
The current price of the NIE ETF is $23.01, reflecting a 3.48% decrease from its previous close of $23.84.