Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Short Interest Update

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 164,041 shares, an increase of 252.5% from the August 31st total of 46,534 shares. Based on an average trading volume of 240,145 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. grew its stake in 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 worth $128,788,000 after buying an additional 1,573,163 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the first quarter valued at $6,757,000. Evolve Private Wealth LLC bought a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the second quarter valued at $2,483,000. Advisor OS LLC boosted its holdings in shares of Virtus Dividend, Interest & Premium Strategy Fund by 221.1% during the second quarter. Advisor OS LLC now owns 167,200 shares of the investment management company’s stock valued at $2,540,000 after acquiring an additional 115,128 shares during the period. Finally, Readystate Asset Management LP acquired a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the second quarter valued at $1,412,000.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

Shares of NYSE NFJ opened at $15.11 on Friday. The firm’s 50-day moving average price is $15.40 and its two-hundred day moving average price is $14.58. Virtus Dividend, Interest & Premium Strategy Fund has a 52-week low of $12.25 and a 52-week high of $15.75.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be given a dividend of $0.3050 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Monday, September 14th.

About Virtus Dividend, Interest & Premium Strategy Fund

Virtus Dividend, Interest & Premium Strategy Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol NFJ. The fund seeks to provide current income and long-term capital appreciation through a diversified portfolio of income-producing securities.

The fund generally invests across three primary areas: dividend-paying common stocks, convertible securities and below-investment-grade corporate bonds. It also uses an options strategy, including writing covered call options, to generate additional premium income and potentially manage portfolio risk.