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 decline in short interest in the month of April. As of April 30th, there was short interest totaling 83,209 shares, a decline of 64.7% from the April 15th total of 235,587 shares. Based on an average trading volume of 194,439 shares, the short-interest ratio is presently 0.4 days.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

NFJ stock traded down $0.23 during trading on Friday, reaching $14.44. 107,460 shares of the stock traded hands, compared to its average volume of 191,520. The business’s 50 day moving average price is $13.37 and its 200-day moving average price 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 announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a $0.305 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.22 annualized dividend and a dividend yield of 8.4%.

Insider Transactions at Virtus Dividend, Interest & Premium Strategy Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 3,509 shares of the stock in a transaction on Wednesday, April 1st. The stock was purchased at an average price of $12.65 per share, with a total value of $44,388.85. Following the completion of the transaction, the insider owned 10,216,703 shares in the company, valued at approximately $129,241,292.95. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 32,299 shares of company stock worth $402,537 over the last ninety days.

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

Several institutional investors and hedge funds have recently modified their holdings of NFJ. Allworth Financial LP boosted its position in shares of 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 buying an additional 2,626 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 11.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,105 shares of the investment management company’s stock worth $101,000 after buying an additional 836 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the second quarter worth about $124,000. Berger Financial Group Inc purchased a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the first quarter worth about $126,000. Finally, Equitable Holdings Inc. purchased a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the fourth 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.