Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Stock Crosses Above 50 Day Moving Average – What’s Next?

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $13.16 and traded as high as $14.17. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $14.0250, with a volume of 361,052 shares.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

The company’s 50-day moving average price is $13.16 and its two-hundred day moving average price is $13.07.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

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 8.7%.

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

In related news, major shareholder Saba Capital Management, L.P. bought 3,509 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was bought at an average price of $12.65 per share, with a total value of $44,388.85. Following the transaction, the insider owned 10,216,703 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have bought 462,989 shares of company stock valued at $6,214,325.

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

Several institutional investors and hedge funds have recently made changes to their positions in NFJ. Royal Bank of Canada raised its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 303.0% during the 1st quarter. Royal Bank of Canada now owns 459,053 shares of the investment management company’s stock valued at $5,568,000 after acquiring an additional 345,156 shares in the last quarter. Jane Street Group LLC bought a new stake in Virtus Dividend, Interest & Premium Strategy Fund during the first quarter valued at $265,000. Cetera Investment Advisers increased its stake in Virtus Dividend, Interest & Premium Strategy Fund by 7.7% during the second quarter. Cetera Investment Advisers now owns 35,135 shares of the investment management company’s stock valued at $436,000 after purchasing an additional 2,521 shares during the last quarter. Franklin Resources Inc. bought a new stake in Virtus Dividend, Interest & Premium Strategy Fund during the second quarter valued at $173,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Virtus Dividend, Interest & Premium Strategy Fund by 11.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,105 shares of the investment management company’s stock valued at $101,000 after purchasing an additional 836 shares during the last quarter.

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.