Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Short Interest Up 162.6% in March

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

Insider Activity at Virtus Dividend, Interest & Premium Strategy Fund

In related news, major shareholder Saba Capital Management, L.P. bought 123,765 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were purchased at an average cost of $13.51 per share, with a total value of $1,672,065.15. Following the transaction, the insider directly owned 9,734,470 shares of the company’s stock, valued at approximately $131,512,689.70. This represents a 1.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 462,989 shares of company stock valued at $6,214,325.

Institutional Trading of Virtus Dividend, Interest & Premium Strategy Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. raised its holdings in shares of Virtus Dividend, Interest & Premium Strategy Fund by 15.1% during the fourth quarter. Saba Capital Management L.P. now owns 8,640,031 shares of the investment management company’s stock worth $111,370,000 after purchasing an additional 1,132,073 shares during the period. Focus Partners Wealth bought a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the fourth quarter worth about $12,643,000. Royal Bank of Canada grew its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 303.0% during the first quarter. Royal Bank of Canada now owns 459,053 shares of the investment management company’s stock worth $5,568,000 after acquiring an additional 345,156 shares during the last quarter. Shaker Financial Services LLC grew its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 364.9% during the fourth quarter. Shaker Financial Services LLC now owns 221,869 shares of the investment management company’s stock worth $2,860,000 after acquiring an additional 174,148 shares during the last quarter. Finally, Evolve Private Wealth LLC bought a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the fourth quarter worth about $2,231,000.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

Shares of Virtus Dividend, Interest & Premium Strategy Fund stock opened at $13.31 on Friday. Virtus Dividend, Interest & Premium Strategy Fund has a 1 year low of $10.83 and a 1 year high of $13.92. The company’s fifty day moving average is $13.13 and its two-hundred day moving average is $13.04.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were issued a $0.305 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.22 annualized dividend and a yield of 9.2%.

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.