Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Short Interest Down 96.9% in July

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 5,598 shares, a decline of 96.9% from the July 15th total of 178,222 shares. Based on an average daily trading volume, of 292,743 shares, the short-interest ratio is currently 0.0 days.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NFJ. Saba Capital Management L.P. increased its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 18.2% in the 1st quarter. Saba Capital Management L.P. now owns 10,213,194 shares of the investment management company’s stock worth $128,788,000 after purchasing an additional 1,573,163 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund during the fourth quarter worth about $12,643,000. Arete Wealth Advisors LLC bought a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund during the first quarter worth about $6,757,000. Royal Bank of Canada increased its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 303.0% in the first 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 during the period. Finally, Shaker Financial Services LLC increased its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 364.9% in the fourth 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 during the period.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

Shares of NFJ stock traded up $0.06 on Thursday, hitting $15.66. 129,442 shares of the company’s stock were exchanged, compared to its average volume of 190,312. The company has a 50 day moving average of $15.14 and a 200 day moving average of $14.16. Virtus Dividend, Interest & Premium Strategy Fund has a 12 month low of $12.25 and a 12 month high of $15.69.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a $0.305 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 7.8%.

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.