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

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) saw a large decline in short interest in March. As of March 13th, there was short interest totaling 88,353 shares, a decline of 42.5% from the February 26th total of 153,611 shares. Based on an average trading volume of 218,519 shares, the days-to-cover ratio is presently 0.4 days.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 28,190 shares of Virtus Dividend, Interest & Premium Strategy Fund stock in a transaction on Thursday, March 19th. The stock was bought at an average cost of $12.41 per share, for a total transaction of $349,837.90. Following the completion of the transaction, the insider owned 9,897,659 shares of the company’s stock, valued at approximately $122,829,948.19. The trade was a 0.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 459,480 shares of company stock valued at $6,169,936.

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

Hedge funds have recently made changes to their positions in the company. Uhlmann Price Securities LLC lifted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 21.6% in the 3rd quarter. Uhlmann Price Securities LLC now owns 41,184 shares of the investment management company’s stock valued at $536,000 after purchasing an additional 7,325 shares in the last quarter. Penserra Capital Management LLC grew its holdings 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 buying an additional 98,415 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 48,828 shares of the investment management company’s stock valued at $641,000 after buying an additional 1,908 shares during the last quarter. Vanguard Capital Wealth Advisors lifted its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 6.8% in the third quarter. Vanguard Capital Wealth Advisors now owns 12,333 shares of the investment management company’s stock worth $160,000 after buying an additional 782 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 46.4% in the third quarter. Stephens Inc. AR now owns 55,577 shares of the investment management company’s stock worth $723,000 after buying an additional 17,624 shares in the last quarter.

Virtus Dividend, Interest & Premium Strategy Fund Stock Down 1.0%

Shares of NFJ stock traded down $0.12 on Friday, reaching $12.35. 261,292 shares of the company were exchanged, compared to its average volume of 191,678. Virtus Dividend, Interest & Premium Strategy Fund has a 1 year low of $10.02 and a 1 year high of $13.92. The business has a 50-day moving average price of $13.25 and a 200 day moving average price of $13.05.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 9.9%. The ex-dividend date is Monday, March 16th.

About Virtus Dividend, Interest & Premium Strategy Fund

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.