Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $12.87 and traded as high as $12.90. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $12.86, with a volume of 183,565 shares trading hands.

Virtus Dividend, Interest & Premium Strategy Fund Stock Down 0.1%

The business has a fifty day moving average of $12.87 and a two-hundred day moving average of $12.77.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Thursday, December 11th will be given a dividend of $0.305 per share. The ex-dividend date is Thursday, December 11th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 9.5%.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. purchased a new position in Virtus Dividend, Interest & Premium Strategy Fund during the second quarter valued at $31,000. Winnow Wealth LLC acquired a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 2nd quarter worth about $32,000. CWM LLC lifted its stake in Virtus Dividend, Interest & Premium Strategy Fund by 33.7% in the 2nd quarter. CWM LLC now owns 3,958 shares of the investment management company’s stock valued at $49,000 after buying an additional 998 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 34.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,269 shares of the investment management company’s stock worth $88,000 after buying an additional 1,864 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the 1st quarter worth about $110,000.

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.