Short Interest in Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Rises By 128.6%

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) saw a significant growth in short interest in January. As of January 30th, there was short interest totaling 78,849 shares, a growth of 128.6% from the January 15th total of 34,496 shares. Based on an average trading volume of 195,672 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 195,672 shares, the short-interest ratio is presently 0.4 days.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

Shares of NYSE NFJ traded up $0.04 during trading hours on Thursday, reaching $13.72. 258,688 shares of the stock traded hands, compared to its average volume of 203,189. Virtus Dividend, Interest & Premium Strategy Fund has a 52-week low of $10.02 and a 52-week high of $13.81. The company’s 50-day simple moving average is $13.18 and its two-hundred day simple moving average is $12.98.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Thursday, December 11th were paid a dividend of $0.305 per share. The ex-dividend date of this dividend was Thursday, December 11th. This represents a $1.22 annualized dividend and a dividend yield of 8.9%.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. purchased 123,765 shares of the stock in a transaction on Tuesday, February 3rd. The shares were acquired at an average price of $13.51 per share, for a total transaction of $1,672,065.15. Following the completion of the transaction, the insider directly owned 9,734,470 shares of the company’s stock, valued at approximately $131,512,689.70. This trade represents a 1.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 430,690 shares of company stock valued at $5,811,788 over the last quarter.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. WealthShield Partners LLC lifted its stake in Virtus Dividend, Interest & Premium Strategy Fund by 1.5% in the fourth quarter. WealthShield Partners LLC now owns 48,901 shares of the investment management company’s stock worth $630,000 after purchasing an additional 742 shares during the last quarter. Vanguard Capital Wealth Advisors grew its position in Virtus Dividend, Interest & Premium Strategy Fund by 6.8% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 12,333 shares of the investment management company’s stock worth $160,000 after acquiring an additional 782 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in 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 valued at $101,000 after purchasing an additional 836 shares during the last quarter. Uhlmann Price Securities LLC boosted its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 2.3% during the fourth quarter. Uhlmann Price Securities LLC now owns 42,151 shares of the investment management company’s stock valued at $543,000 after purchasing an additional 967 shares during the period. Finally, CWM LLC grew its holdings in shares of Virtus Dividend, Interest & Premium Strategy Fund by 33.7% in the second quarter. CWM LLC now owns 3,958 shares of the investment management company’s stock worth $49,000 after purchasing an additional 998 shares during the last quarter.

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.