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

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 231,972 shares, an increase of 162.6% from the March 15th total of 88,353 shares. Based on an average daily volume of 221,880 shares, the short-interest ratio is currently 1.0 days.

Virtus Dividend, Interest & Premium Strategy Fund Stock Up 1.5%

Shares of Virtus Dividend, Interest & Premium Strategy Fund stock opened at $13.54 on Tuesday. The company has a fifty day moving average price of $13.13 and a 200 day moving average price of $13.04. Virtus Dividend, Interest & Premium Strategy Fund has a twelve month low of $10.83 and a twelve month high of $13.92.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders 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 yield of 9.0%.

Insiders Place Their Bets

In other Virtus Dividend, Interest & Premium Strategy Fund news, major shareholder Saba Capital Management, L.P. purchased 3,509 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was purchased at an average cost of $12.65 per share, with a total value of $44,388.85. Following the transaction, the insider owned 10,216,703 shares in the company, valued at approximately $129,241,292.95. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 462,989 shares of company stock worth $6,214,325.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Fund Advisors of America Inc FL acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund in the 4th quarter worth $742,000. NewEdge Advisors LLC lifted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 5.5% in the 4th quarter. NewEdge Advisors LLC now owns 104,722 shares of the investment management company’s stock worth $1,350,000 after buying an additional 5,503 shares in the last quarter. Saba Capital Management L.P. lifted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 15.1% in the 4th quarter. Saba Capital Management L.P. now owns 8,640,031 shares of the investment management company’s stock worth $111,370,000 after buying an additional 1,132,073 shares in the last quarter. Readystate Asset Management LP lifted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 41.1% in the 4th quarter. Readystate Asset Management LP now owns 32,530 shares of the investment management company’s stock worth $419,000 after buying an additional 9,471 shares in the last quarter. Finally, Ionic Capital Management LLC acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund in the 4th quarter worth $516,000.

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.