Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Shares Cross Above 50-Day Moving Average – Time to Sell?

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ)’s share price crossed above its 50-day moving average during trading on Wednesday . 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 $12.85, with a volume of 442,613 shares.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

The business has a 50 day moving average of $12.87 and a two-hundred day moving average of $12.79.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Thursday, December 11th were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 9.4%. The ex-dividend date was Thursday, December 11th.

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

Institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its stake in Virtus Dividend, Interest & Premium Strategy Fund by 34.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,269 shares of the investment management company’s stock worth $88,000 after purchasing an additional 1,864 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 303.0% during the 1st quarter. Royal Bank of Canada now owns 459,053 shares of the investment management company’s stock worth $5,568,000 after buying an additional 345,156 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund in the 1st quarter valued at $265,000. Geneos Wealth Management Inc. grew its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 547.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 42,661 shares of the investment management company’s stock valued at $517,000 after buying an additional 36,076 shares during the last quarter. Finally, Modern Wealth Management LLC raised its stake in Virtus Dividend, Interest & Premium Strategy Fund by 1.7% during the 1st quarter. Modern Wealth Management LLC now owns 121,962 shares of the investment management company’s stock worth $1,479,000 after acquiring an additional 2,071 shares in the last quarter.

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.