Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Short Interest Update

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) saw a large decrease in short interest in February. As of February 27th, there was short interest totaling 153,611 shares, a decrease of 28.1% from the February 12th total of 213,588 shares. Based on an average trading volume of 141,461 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 141,461 shares, the days-to-cover ratio is currently 1.1 days.

Insider Activity at Virtus Dividend, Interest & Premium Strategy Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 123,765 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were acquired at an average cost of $13.51 per share, with a total value of $1,672,065.15. Following the purchase, the insider owned 9,734,470 shares of the company’s stock, valued at approximately $131,512,689.70. The trade was a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders bought 431,290 shares of company stock worth $5,820,098.

Hedge Funds Weigh In On Virtus Dividend, Interest & Premium Strategy Fund

Several large investors have recently made changes to their positions in NFJ. Royal Bank of Canada boosted its stake in Virtus Dividend, Interest & Premium Strategy Fund by 303.0% during the 1st quarter. Royal Bank of Canada now owns 459,053 shares of the investment management company’s stock valued at $5,568,000 after purchasing an additional 345,156 shares during the period. Jane Street Group LLC acquired a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the first quarter worth approximately $265,000. Envestnet Asset Management Inc. lifted its holdings in shares of Virtus Dividend, Interest & Premium Strategy Fund by 1.0% during the second quarter. Envestnet Asset Management Inc. now owns 216,164 shares of the investment management company’s stock worth $2,680,000 after buying an additional 2,137 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 7.7% in the second quarter. Cetera Investment Advisers now owns 35,135 shares of the investment management company’s stock valued at $436,000 after acquiring an additional 2,521 shares during the period. Finally, Winnow Wealth LLC acquired a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the second quarter worth $32,000.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

NYSE:NFJ traded up $0.03 during midday trading on Friday, reaching $12.69. The stock had a trading volume of 194,124 shares, compared to its average volume of 194,180. Virtus Dividend, Interest & Premium Strategy Fund has a 1-year low of $10.02 and a 1-year high of $13.92. The firm’s fifty day simple moving average is $13.40 and its 200-day simple moving average is $13.09.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 9.6%. The ex-dividend date of this dividend is Monday, March 16th.

Virtus Dividend, Interest & Premium Strategy Fund Company Profile

The Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) is a diversified closed-end management investment company that seeks to deliver current income and total return through a combination of equity securities, fixed-income instruments and an equity option‐writing strategy. The fund allocates its assets among U.S.-listed common stocks, preferred stocks, convertible securities and corporate bonds, while employing covered call and put option overlays to generate additional premium income and enhance yield.

Launched in February 2011, NFJ is managed by the investment professionals at Virtus Investment Advisers, LLC, who focus on identifying dividend-paying companies with strong fundamentals and attractive valuations.