Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Share Price Passes Above 50-Day Moving Average – What’s Next?

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.87 and traded as high as $12.90. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $12.86, with a volume of 183,565 shares trading hands.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

The company’s 50-day moving average is $12.87 and its 200-day moving average is $12.77.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Thursday, December 11th will be issued a $0.305 dividend. The ex-dividend date is Thursday, December 11th. This represents a $1.22 dividend on an annualized basis and a yield of 9.5%.

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

A number of large investors have recently modified their holdings of NFJ. Royal Bank of Canada boosted its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 303.0% in the first 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. Osaic Holdings Inc. lifted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 213.0% in the 2nd quarter. Osaic Holdings Inc. now owns 180,697 shares of the investment management company’s stock worth $2,241,000 after buying an additional 122,968 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Virtus Dividend, Interest & Premium Strategy Fund by 8.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,404,320 shares of the investment management company’s stock valued at $17,414,000 after buying an additional 114,811 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 7.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,630,081 shares of the investment management company’s stock valued at $21,207,000 after acquiring an additional 110,431 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 25.0% during the third quarter. Penserra Capital Management LLC now owns 491,498 shares of the investment management company’s stock worth $6,394,000 after acquiring an additional 98,415 shares during the last quarter.

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.