Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.79 and traded as high as $15.06. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $14.9860, with a volume of 153,824 shares trading hands.

Virtus Dividend, Interest & Premium Strategy Fund Trading Up 0.5%

The firm’s 50 day moving average is $14.84 and its two-hundred day moving average is $13.81.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a dividend of $0.305 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.0%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NFJ. Resources Management Corp CT ADV acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter worth $28,000. Allied Private Wealth LLC acquired a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the 2nd quarter valued at about $37,000. Allworth Financial LP boosted its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 431.2% in the 4th quarter. Allworth Financial LP now owns 3,235 shares of the investment management company’s stock valued at $42,000 after buying an additional 2,626 shares during the period. Western Wealth Management LLC purchased a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund in the 1st quarter valued at about $90,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of 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 worth $101,000 after buying an additional 836 shares in 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.