Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Sees Significant Growth in Short Interest

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 213,588 shares, an increase of 170.9% from the January 29th total of 78,849 shares. Based on an average daily volume of 193,719 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 193,719 shares, the days-to-cover ratio is currently 1.1 days.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. purchased 51,354 shares of Virtus Dividend, Interest & Premium Strategy Fund stock in a transaction dated Tuesday, February 10th. The shares were acquired at an average price of $13.70 per share, with a total value of $703,549.80. Following the completion of the transaction, the insider owned 9,851,693 shares of the company’s stock, valued at approximately $134,968,194.10. This trade represents a 0.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have bought 431,290 shares of company stock valued at $5,820,098.

Hedge Funds Weigh In On Virtus Dividend, Interest & Premium Strategy Fund

Several large investors have recently added to or reduced their stakes in the company. WealthShield Partners LLC boosted its holdings 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 lifted its position 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 worth $160,000 after buying an additional 782 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings 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 during the period. Uhlmann Price Securities LLC boosted its holdings in shares of Virtus Dividend, Interest & Premium Strategy Fund by 2.3% in the 4th quarter. Uhlmann Price Securities LLC now owns 42,151 shares of the investment management company’s stock valued at $543,000 after buying an additional 967 shares during the period. Finally, CWM LLC grew its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 33.7% during the 2nd quarter. CWM LLC now owns 3,958 shares of the investment management company’s stock valued at $49,000 after buying an additional 998 shares during the last quarter.

Virtus Dividend, Interest & Premium Strategy Fund Trading Down 0.4%

NYSE NFJ traded down $0.06 on Friday, hitting $13.55. 126,463 shares of the stock traded hands, compared to its average volume of 187,966. The stock has a 50-day moving average of $13.37 and a 200 day moving average of $13.07. Virtus Dividend, Interest & Premium Strategy Fund has a twelve month low of $10.02 and a twelve month high of $13.92.

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.