Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Short Interest Down 64.7% in April

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 83,209 shares, a decrease of 64.7% from the April 15th total of 235,587 shares. Based on an average daily volume of 194,439 shares, the short-interest ratio is currently 0.4 days.

Virtus Dividend, Interest & Premium Strategy Fund Trading Down 1.6%

Shares of NYSE NFJ traded down $0.23 during mid-day trading on Friday, reaching $14.44. The company had a trading volume of 107,460 shares, compared to its average volume of 191,520. The business’s 50-day moving average is $13.37 and its 200-day moving average is $13.23. Virtus Dividend, Interest & Premium Strategy Fund has a 52 week low of $11.71 and a 52 week high of $14.69.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a $0.305 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.4%.

Insider Activity at Virtus Dividend, Interest & Premium Strategy Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 28,190 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average cost of $12.41 per share, for a total transaction of $349,837.90. Following the completion of the acquisition, the insider owned 9,897,659 shares in the company, valued at approximately $122,829,948.19. This trade represents a 0.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 32,299 shares of company stock valued at $402,537 in the last quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 431.2% during the 4th quarter. Allworth Financial LP now owns 3,235 shares of the investment management company’s stock worth $42,000 after acquiring an additional 2,626 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 11.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,105 shares of the investment management company’s stock worth $101,000 after acquiring an additional 836 shares in the last quarter. Cresset Asset Management LLC bought a new position in Virtus Dividend, Interest & Premium Strategy Fund during the 2nd quarter worth about $124,000. Berger Financial Group Inc bought a new position in Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter worth about $126,000. Finally, Equitable Holdings Inc. bought a new position in Virtus Dividend, Interest & Premium Strategy Fund during the 4th quarter worth about $133,000.

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.