June 30th, according to documents disclosed by the Securities and Exchange Commission (SEC) on June 30th$Virtus Equity & Convertible Income Fund (NIE.US)$Director BURKE DONALD C increased his stake in 719.54 common shares at an average price of $20.8467 per share on June 28, valued at approximately $15000.
What is the statement of shareholding change?
SEC requires insiders of listed companies to publicly disclose their securities trading and shareholdings. When the insider's shareholding changes, it is necessary to submit a shareholding change statement to SEC within a certain period of time after the end of the transaction.
Insiders include directors and executives of the company, as well as any shareholders who own 10% or more of the company's outstanding shares.