Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Shares Shorted: Short Interest Down 55.3% in October

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 230,275 shares, a drop of 55.3% from the September 30th total of 515,445 shares. Based on an average daily volume of 374,867 shares, the days-to-cover ratio is presently 0.6 days.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

NYSE NFJ traded down $0.27 during trading hours on Friday, reaching $14.22. 486,412 shares of the company were exchanged, compared to its average volume of 210,798. Virtus Dividend, Interest & Premium Strategy Fund has a 1 year low of $12.25 and a 1 year high of $15.75. The business’s 50 day simple moving average is $15.08 and its 200-day simple moving average is $14.40.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were paid a dividend of $0.3050 per share. The ex-dividend date was Monday, September 14th. This represents a $1.22 annualized dividend and a dividend yield of 8.6%.

Institutional Investors Weigh In On Virtus Dividend, Interest & Premium Strategy Fund

A number of hedge funds have recently modified their holdings of NFJ. Saba Capital Management L.P. increased its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 18.2% during the first quarter. Saba Capital Management L.P. now owns 10,213,194 shares of the investment management company’s stock valued at $128,788,000 after buying an additional 1,573,163 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Virtus Dividend, Interest & Premium Strategy Fund by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,673,273 shares of the investment management company’s stock valued at $21,100,000 after buying an additional 21,385 shares during the period. Arete Wealth Advisors LLC bought a new stake in Virtus Dividend, Interest & Premium Strategy Fund during the first quarter valued at $6,757,000. Advisor OS LLC grew its position in Virtus Dividend, Interest & Premium Strategy Fund by 221.1% during the second quarter. Advisor OS LLC now owns 167,200 shares of the investment management company’s stock worth $2,540,000 after buying an additional 115,128 shares in the last quarter. Finally, Evolve Private Wealth LLC purchased a new position in Virtus Dividend, Interest & Premium Strategy Fund during the second quarter worth about $2,483,000.

Virtus Dividend, Interest & Premium Strategy Fund Company Profile

Virtus Dividend, Interest & Premium Strategy Fund is a diversified closed-end investment fund traded on the New York Stock Exchange under the symbol NFJ. The fund seeks to provide current income and long-term capital appreciation through a portfolio of dividend-paying equity securities, convertible securities and interest-bearing investments.

As part of its premium-income strategy, the fund may write covered call options on selected portfolio holdings. This approach is designed to generate additional option-premium income while maintaining exposure to equity markets.