Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.58 and traded as high as $15.27. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $15.1450, with a volume of 252,979 shares traded.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

The stock has a 50-day moving average price of $14.45 and a 200 day moving average price of $13.58.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $0.305 per share. The ex-dividend date is Monday, June 15th. This represents a $1.22 dividend on an annualized basis and a yield of 8.1%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NFJ. Royal Bank of Canada grew its stake in Virtus Dividend, Interest & Premium Strategy Fund by 303.0% in the 1st quarter. Royal Bank of Canada now owns 459,053 shares of the investment management company’s stock valued at $5,568,000 after acquiring an additional 345,156 shares during the period. Jane Street Group LLC acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund during the first quarter worth $265,000. Cetera Investment Advisers lifted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 7.7% during the second quarter. Cetera Investment Advisers now owns 35,135 shares of the investment management company’s stock valued at $436,000 after purchasing an additional 2,521 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the second quarter valued at about $173,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 11.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,105 shares of the investment management company’s stock valued at $101,000 after purchasing an additional 836 shares during the period.

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.