Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Short Interest Down 63.9% in January

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totaling 34,496 shares, a drop of 63.9% from the December 31st total of 95,632 shares. Based on an average daily volume of 216,545 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 216,545 shares, the days-to-cover ratio is presently 0.2 days.

Virtus Dividend, Interest & Premium Strategy Fund Stock Up 0.3%

NYSE:NFJ traded up $0.05 during trading hours on Thursday, hitting $13.49. 204,865 shares of the company were exchanged, compared to its average volume of 209,314. Virtus Dividend, Interest & Premium Strategy Fund has a one year low of $10.02 and a one year high of $13.56. The company has a fifty day simple moving average of $13.06 and a 200 day simple moving average of $12.92.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Thursday, December 11th were given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date of this dividend was Thursday, December 11th.

Insider Activity

In other Virtus Dividend, Interest & Premium Strategy Fund news, major shareholder Saba Capital Management, L.P. acquired 51,528 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was acquired at an average cost of $13.47 per share, for a total transaction of $694,082.16. Following the transaction, the insider directly owned 9,472,531 shares in the company, valued at $127,594,992.57. This represents a 0.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 2.7% in the 2nd quarter. Bank of America Corp DE now owns 3,387,545 shares of the investment management company’s stock worth $42,006,000 after acquiring an additional 88,073 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Virtus Dividend, Interest & Premium Strategy Fund by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,651,888 shares of the investment management company’s stock worth $21,293,000 after purchasing an additional 21,807 shares during the period. Invesco Ltd. increased its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 1.3% in the 3rd quarter. Invesco Ltd. now owns 1,494,480 shares of the investment management company’s stock valued at $19,443,000 after acquiring an additional 19,568 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 8.9% during 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 acquiring an additional 114,811 shares during the period. Finally, Penserra Capital Management LLC grew its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 25.0% in the third quarter. Penserra Capital Management LLC now owns 491,498 shares of the investment management company’s stock worth $6,394,000 after purchasing an additional 98,415 shares during the period.

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.