Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.09 and traded as low as $12.62. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $12.6450, with a volume of 408,986 shares.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

The firm has a 50 day moving average of $13.41 and a two-hundred day moving average of $13.09.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.305 per share. The ex-dividend date is Monday, March 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 9.6%.

Insider Buying and Selling at Virtus Dividend, Interest & Premium Strategy Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 51,354 shares of the stock in a transaction dated Tuesday, February 10th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $703,549.80. Following the completion of the purchase, the insider owned 9,851,693 shares in the company, valued at approximately $134,968,194.10. The trade was a 0.52% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased 431,290 shares of company stock valued at $5,820,098 over the last three months.

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

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 303.0% in the first quarter. Royal Bank of Canada now owns 459,053 shares of the investment management company’s stock valued at $5,568,000 after buying an additional 345,156 shares during the period. Jane Street Group LLC acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund in the 1st quarter valued at approximately $265,000. Envestnet Asset Management Inc. raised its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 216,164 shares of the investment management company’s stock valued at $2,680,000 after acquiring an additional 2,137 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 7.7% in the 2nd quarter. Cetera Investment Advisers now owns 35,135 shares of the investment management company’s stock worth $436,000 after acquiring an additional 2,521 shares during the period. Finally, Winnow Wealth LLC acquired a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 2nd quarter worth approximately $32,000.

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.