Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Short Interest Down 64.7% in April

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totaling 83,209 shares, a decline of 64.7% from the April 15th total of 235,587 shares. Based on an average daily trading volume, of 194,439 shares, the days-to-cover ratio is presently 0.4 days.

Virtus Dividend, Interest & Premium Strategy Fund Stock Up 0.8%

Shares of Virtus Dividend, Interest & Premium Strategy Fund stock traded up $0.12 on Thursday, reaching $14.68. The company’s stock had a trading volume of 194,272 shares, compared to its average volume of 192,434. Virtus Dividend, Interest & Premium Strategy Fund has a 52-week low of $11.71 and a 52-week high of $14.69. The stock has a 50-day moving average price of $13.35 and a 200-day moving average price of $13.22.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The firm also recently disclosed 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 was Monday, March 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.3%.

Insider Activity at Virtus Dividend, Interest & Premium Strategy Fund

In other Virtus Dividend, Interest & Premium Strategy Fund news, major shareholder Saba Capital Management, L.P. acquired 3,509 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was acquired at an average cost of $12.65 per share, for a total transaction of $44,388.85. Following the completion of the transaction, the insider directly owned 10,216,703 shares of the company’s stock, valued at $129,241,292.95. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 32,299 shares of company stock valued at $402,537 in the last three months.

Institutional Trading of Virtus Dividend, Interest & Premium Strategy Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,673,273 shares of the investment management company’s stock worth $21,100,000 after purchasing an additional 21,385 shares in the last quarter. Independent Financial Group LLC purchased a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund during the first quarter worth approximately $369,000. D.A. Davidson & CO. increased its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 3.5% during the first quarter. D.A. Davidson & CO. now owns 96,040 shares of the investment management company’s stock worth $1,211,000 after purchasing an additional 3,258 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 19.7% during the first quarter. Procyon Advisors LLC now owns 18,316 shares of the investment management company’s stock worth $231,000 after purchasing an additional 3,011 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund during the first quarter worth approximately $452,000.

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.