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 recipient 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 volume of 194,439 shares, the days-to-cover ratio is currently 0.4 days.

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

NYSE:NFJ traded up $0.12 during trading hours on Thursday, hitting $14.68. The company had a trading volume of 194,272 shares, compared to its average volume of 192,434. The company has a 50-day moving average of $13.35 and a 200 day moving average of $13.22. Virtus Dividend, Interest & Premium Strategy Fund has a 1 year low of $11.71 and a 1 year high of $14.69.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 8.3%. The ex-dividend date was Monday, March 16th.

Insider Activity at Virtus Dividend, Interest & Premium Strategy Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 3,509 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was purchased 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 owned 10,216,703 shares of the company’s stock, valued at $129,241,292.95. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 32,299 shares of company stock worth $402,537 in the last three months.

Institutional Trading of Virtus Dividend, Interest & Premium Strategy Fund

Several large investors have recently added to or reduced their stakes in NFJ. Saba Capital Management L.P. grew its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 15.1% in the 4th quarter. Saba Capital Management L.P. now owns 8,640,031 shares of the investment management company’s stock valued at $111,370,000 after buying an additional 1,132,073 shares in the last quarter. Focus Partners Wealth purchased a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the 4th quarter valued at $12,643,000. Royal Bank of Canada grew its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 303.0% in the 1st quarter. Royal Bank of Canada now owns 459,053 shares of the investment management company’s stock valued at $5,568,000 after buying an additional 345,156 shares in the last quarter. Shaker Financial Services LLC grew its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 364.9% in the 4th quarter. Shaker Financial Services LLC now owns 221,869 shares of the investment management company’s stock valued at $2,860,000 after buying an additional 174,148 shares in the last quarter. Finally, Evolve Private Wealth LLC purchased a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the 4th quarter valued at $2,231,000.

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.