Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.09 and traded as low as $12.62. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $12.6450, with a volume of 408,986 shares.

Virtus Dividend, Interest & Premium Strategy Fund Stock Up 0.2%

The company has a 50 day simple moving average of $13.40 and a two-hundred day simple moving average of $13.08.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.305 per share. The ex-dividend date is Monday, March 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 9.6%.

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

In related news, major shareholder Saba Capital Management, L.P. bought 123,765 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was bought at an average cost of $13.51 per share, with a total value of $1,672,065.15. Following the completion of the purchase, the insider owned 9,734,470 shares of the company’s stock, valued at approximately $131,512,689.70. The trade was a 1.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired a total of 431,290 shares of company stock worth $5,820,098 in the last three months.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Winnow Wealth LLC purchased a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the second quarter valued at about $32,000. Allworth Financial LP lifted its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 431.2% in the fourth quarter. Allworth Financial LP now owns 3,235 shares of the investment management company’s stock worth $42,000 after buying an additional 2,626 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 buying an additional 836 shares during the last quarter. Cresset Asset Management LLC purchased a new position in Virtus Dividend, Interest & Premium Strategy Fund during the 2nd quarter valued at approximately $124,000. Finally, Equitable Holdings Inc. purchased a new position in Virtus Dividend, Interest & Premium Strategy Fund during the 4th quarter valued at approximately $133,000.

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.