Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Declares $0.31 Quarterly Dividend

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) announced a quarterly dividend on Wednesday, June 3rd. Shareholders of record on Monday, June 15th will be paid a dividend of 0.305 per share by the investment management company on Monday, June 29th. This represents a c) dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend is Monday, June 15th.

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

Shares of NFJ stock opened at $15.01 on Thursday. Virtus Dividend, Interest & Premium Strategy Fund has a 52-week low of $12.00 and a 52-week high of $15.08. The company has a 50-day simple moving average of $13.89 and a two-hundred day simple moving average of $13.40.

Insider Transactions at Virtus Dividend, Interest & Premium Strategy Fund

In related news, major shareholder Saba Capital Management, L.P. bought 3,509 shares of Virtus Dividend, Interest & Premium Strategy Fund stock in a transaction dated Wednesday, April 1st. The stock was purchased at an average cost of $12.65 per share, with a total value of $44,388.85. Following the transaction, the insider directly owned 10,216,703 shares of the company’s stock, valued at approximately $129,241,292.95. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arete Wealth Advisors LLC bought a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter valued at approximately $6,757,000. Western Wealth Management LLC purchased a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter valued at $90,000. Core Wealth Advisors Inc. purchased a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter valued at $217,000. Resources Management Corp CT ADV purchased a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter valued at $28,000. Finally, Saba Capital Management L.P. lifted its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 18.2% during the 1st quarter. Saba Capital Management L.P. now owns 10,213,194 shares of the investment management company’s stock valued at $128,788,000 after buying an additional 1,573,163 shares during the last quarter.

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.