Welcome to our dedicated page for Virtus Convertible & Income 2024 Target Term Fund news (Ticker: CBH), a resource for investors and traders seeking the latest updates and insights on Virtus Convertible & Income 2024 Target Term Fund stock.
Virtus Convertible & Income 2024 Target Term Fund (CBH) is a diversified, closed-end management investment company, designed to provide investors with a high level of income and returns. Operating under the umbrella of Virtus Investment Partners, CBH exemplifies the qualities of integrity, quality, and strength. Founded as a forward-thinking investment management provider, Virtus Convertible & Income 2024 Target Term Fund serves both individual and institutional investors with a diverse portfolio.
The fund strategically invests across various sectors, including Aerospace and Defense, Healthcare Services, Machinery Construction and Mining, Pharmaceuticals, Transportation, Textiles, Apparel and Luxury Goods, Diversified Financial Services, and Auto Components, among others. By leveraging its multi-manager asset management business model, which includes multiple affiliated managers, each with a distinct investment style and autonomous investment process, CBH maximizes income and returns for investors.
Recent achievements and current projects emphasize the fund's commitment to providing exceptional financial growth opportunities. With a targeted term, investors can trust the fund's disciplined approach to reaching its maturity date in 2024 with optimized returns.
Virtus Convertible & Income 2024 Target Term Fund remains dedicated to upholding its responsibility to clients, ensuring their success in the investment landscape. Stay informed about the latest updates and developments regarding CBH, including performance metrics and significant events that influence the fund's trajectory.
Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has completed its termination and liquidation on August 30, 2024. The Fund's final net asset value (NAV) was $9.2342 per common share, with liquidation proceeds paid to shareholders on September 4, 2024. Launched on June 29, 2017, the Fund paid total distributions of $4.2152 per share, representing an average annual distribution rate of 6.36% on the final NAV. The annualized total return for initial investors was 5.34% based on NAV and 5.26% based on market price. Shareholders may recognize gains or losses for tax purposes and are advised to consult tax advisors regarding potential tax liabilities from the liquidation proceeds.
The Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has announced additional details about its planned liquidation. The final trading day for the Fund on the New York Stock Exchange will be August 26, 2024. Post this date, there will be no secondary market for the Fund’s shares. The liquidation will occur after the close of business on August 30, 2024, with liquidation proceeds paid around September 4, 2024, based on shareholders’ holdings as of the Termination Date.
The Fund's final monthly distribution was declared on March 1, 2024, amounting to $0.027, payable on June 27, 2024. Shareholders are advised to consult their tax advisors regarding any tax liabilities from the liquidation proceeds. The tax-related details for the distributions will be provided through Form 1099-DIV sent by the Fund or brokers.
Virtus Convertible & Income 2024 Target Term Fund (NYSE: CBH) has announced a special year-end distribution of $0.0909 per share in long-term capital gains, in addition to its regular monthly distribution. This distribution is mandated by federal tax requirements and will be effective on December 29, 2022. The record date is set for December 30, 2022, with payments to be made on January 10, 2023. The Fund aims to provide a high level of income and return at least $9.835 per share by September 1, 2024.
FAQ
What is the current stock price of Virtus Convertible & Income 2024 Target Term Fund (CBH)?
What is the market cap of Virtus Convertible & Income 2024 Target Term Fund (CBH)?
What does Virtus Convertible & Income 2024 Target Term Fund do?
What sectors does CBH invest in?
When is the target term of the fund?
Who manages the fund?
What are the investment objectives of CBH?
How does CBH ensure diversified investments?
How can I stay updated on CBH's performance?
Are there any recent achievements of the fund?
What is the core business of Virtus Investment Partners?
What are the traits Virtus Investment Partners stand for?
