Virtus Dividend, Interest & Premium Strategy Fund (NFJ) to Issue Quarterly Dividend of $0.31 on March 30th

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) announced a quarterly dividend on Wednesday, March 4th. Investors of record on Monday, March 16th will be given a dividend of 0.305 per share by the investment management company on Monday, March 30th. This represents a c) annualized dividend and a dividend yield of 9.6%. The ex-dividend date is Monday, March 16th.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

Shares of NYSE NFJ opened at $12.69 on Friday. The company’s 50-day moving average price is $13.40 and its 200 day moving average price is $13.08. Virtus Dividend, Interest & Premium Strategy Fund has a 52 week low of $10.02 and a 52 week high of $13.92.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 123,765 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was bought at an average price of $13.51 per share, with a total value of $1,672,065.15. Following the purchase, the insider directly owned 9,734,470 shares in the company, valued at $131,512,689.70. The trade was a 1.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 431,290 shares of company stock valued at $5,820,098 in the last ninety days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. WealthShield Partners LLC lifted its position in Virtus Dividend, Interest & Premium Strategy Fund by 1.5% in the fourth quarter. WealthShield Partners LLC now owns 48,901 shares of the investment management company’s stock worth $630,000 after purchasing an additional 742 shares during the period. Vanguard Capital Wealth Advisors raised its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 6.8% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 12,333 shares of the investment management company’s stock valued at $160,000 after buying an additional 782 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 11.5% in the 2nd 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 in the last quarter. Uhlmann Price Securities LLC lifted its holdings in shares of Virtus Dividend, Interest & Premium Strategy Fund by 2.3% during the 4th quarter. Uhlmann Price Securities LLC now owns 42,151 shares of the investment management company’s stock worth $543,000 after acquiring an additional 967 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Virtus Dividend, Interest & Premium Strategy Fund by 4.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 48,828 shares of the investment management company’s stock worth $641,000 after acquiring an additional 1,908 shares during the period.

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.