Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Sees Significant Increase in Short Interest

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 205,140 shares, a growth of 146.3% from the June 15th total of 83,300 shares. Based on an average daily volume of 175,146 shares, the days-to-cover ratio is currently 1.2 days.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

NYSE:NFJ traded down $0.04 during mid-day trading on Wednesday, reaching $15.09. The stock had a trading volume of 272,353 shares, compared to its average volume of 183,907. The firm has a 50 day moving average price of $14.88 and a two-hundred day moving average price of $13.86. Virtus Dividend, Interest & Premium Strategy Fund has a one year low of $12.25 and a one year high of $15.42.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $0.305 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.22 annualized dividend and a dividend yield of 8.1%.

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

A number of hedge funds have recently made changes to their positions in the business. Resources Management Corp CT ADV bought a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter valued at $28,000. Allied Private Wealth LLC bought a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the second quarter worth $37,000. Allworth Financial LP lifted its stake in Virtus Dividend, Interest & Premium Strategy Fund by 431.2% in the fourth quarter. Allworth Financial LP now owns 3,235 shares of the investment management company’s stock worth $42,000 after purchasing an additional 2,626 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Virtus Dividend, Interest & Premium Strategy Fund during the first quarter valued at about $90,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Virtus Dividend, Interest & Premium Strategy Fund by 11.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,105 shares of the investment management company’s stock valued at $101,000 after buying an additional 836 shares during the period.

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.