• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    Virtus Convertible & Income 2024 Target Term Fund Announces Termination and Liquidation

    9/5/24 9:00:00 AM ET
    $CBH
    $VRTS
    Trusts Except Educational Religious and Charitable
    Finance
    Investment Managers
    Finance
    Get the next $CBH alert in real time by email

    Virtus Convertible & Income 2024 Target Term Fund (NYSE:CBH) ("the Fund") completed its termination and liquidation following the close of business on August 30, 2024. The termination and liquidation were performed in accordance with the Fund's investment objectives and organizational documents, consistent with the Fund's previously announced liquidation plans.

    Upon the Fund's termination, the Fund had a final net asset value (NAV) of $9.2342 per common share. The liquidation proceeds were paid on September 4, 2024 to all Fund shareholders.

    The Fund, which was launched on June 29, 2017, paid distributions totaling in the aggregate $4.2152 per share, which equates to an average annual distribution rate of 6.36% on the final NAV as of August 30, 2024. The annualized total return on the final NAV for shareholders who invested at the initial public offerings was 5.34% and the annualized total return on the final market price, as of August 26, 2024, was 5.26%. Shareholders may recognize a gain or loss for U.S. tax purposes as a result of the liquidation and should consult with their own tax advisors about any tax liability resulting from the receipt of liquidation proceeds.

    The amount of the distribution reported in this notice is not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund's investment experience through the Termination Date and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.

    About the Fund

    Virtus Convertible & Income 2024 Target Term Fund's investment objectives are to provide a high level of income and to return at least $9.835 per common share (the original net asset value per common share of beneficial interest before deducting offering costs of $0.02 per share) to holders of common shares on or about September 1, 2024, when the Fund will terminate, absent approval by the Fund's Board of Trustees to extend the Fund's term by up to six months. No assurance can be given that the Fund will achieve its investment objectives. Virtus Investment Advisers, Inc. is the investment adviser to the fund and Voya Investment Management is the subadviser.

    Fund Risks

    An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about the Fund's investment objective and risks, please see the Fund's annual report. A copy of the Fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the bottom of this press release.

    About Virtus Investment Partners

    Virtus Investment Partners (NYSE:VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240905557377/en/

    Get the next $CBH alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $CBH
    $VRTS

    CompanyDatePrice TargetRatingAnalyst
    Virtus Investment Partners Inc.
    $VRTS
    8/27/2024$206.00Underweight
    Barclays
    Virtus Investment Partners Inc.
    $VRTS
    4/8/2024$285.00 → $264.00Buy → Hold
    TD Cowen
    Virtus Investment Partners Inc.
    $VRTS
    1/4/2024$289.00Outperform
    TD Cowen
    Virtus Investment Partners Inc.
    $VRTS
    12/20/2023$264.00Overweight
    Piper Sandler
    Virtus Investment Partners Inc.
    $VRTS
    3/27/2023$248.00 → $260.00Neutral → Overweight
    Piper Sandler
    Virtus Investment Partners Inc.
    $VRTS
    2/6/2023$248.00Overweight → Neutral
    Piper Sandler
    Virtus Investment Partners Inc.
    $VRTS
    4/8/2022$393.00 → $240.00Overweight → Underweight
    Morgan Stanley
    Virtus Investment Partners Inc.
    $VRTS
    8/5/2021$400.00Equal-Weight → Overweight
    Morgan Stanley
    More analyst ratings

    $CBH
    $VRTS
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Amendment: New insider Virtus Investment Partners, Inc. claimed no ownership of stock in the company (SEC Form 3)

      3/A - VIRTUS INVESTMENT PARTNERS, INC. (0000883237) (Reporting)

      6/12/25 5:16:13 PM ET
      $VRTS
      Investment Managers
      Finance
    • New insider Virtus Investment Partners, Inc. claimed ownership of 15,376 shares (SEC Form 3)

      3 - VIRTUS INVESTMENT PARTNERS, INC. (0000883237) (Reporting)

      6/9/25 8:04:56 PM ET
      $VRTS
      Investment Managers
      Finance
    • Director Fleming Susan S. was granted 652 shares, increasing direct ownership by 4% to 16,636 units (SEC Form 4)

      4 - VIRTUS INVESTMENT PARTNERS, INC. (0000883237) (Issuer)

      5/15/25 4:41:22 PM ET
      $VRTS
      Investment Managers
      Finance

    $CBH
    $VRTS
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Virtus Total Return Fund Inc. Discloses Sources of Distribution – Section 19(a) Notice

      Virtus Total Return Fund Inc. (NYSE:ZTR) previously announced the following monthly distribution on March 6, 2025: Amount of Distribution Ex-Date/Record Date Payable Date $0.05 June 12, 2025 June 27, 2025 Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid, in part or in full, from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund's

      6/26/25 4:25:00 PM ET
      $VRTS
      $ZTR
      Investment Managers
      Finance
    • Virtus Equity & Convertible Income Fund Discloses Sources of Distribution – Section 19(a) Notice

      Virtus Equity & Convertible Income Fund (NYSE:NIE) previously announced the following quarterly distribution on March 6, 2025: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NIE $0.50 June 12, 2025 June 27, 2025 Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full, from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference w

      6/26/25 4:20:00 PM ET
      $NIE
      $VRTS
      Investment Managers
      Finance
    • Virtus Dividend, Interest & Premium Strategy Fund Discloses Sources of Distribution – Section 19(a) Notice

      Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) previously announced the following quarterly distribution on March 6, 2025: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NFJ $0.305 June 12, 2025 June 27, 2025 Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full, from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the d

      6/26/25 4:15:00 PM ET
      $NFJ
      $VRTS
      Finance: Consumer Services
      Finance
      Investment Managers