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

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 46,534 shares, a growth of 500.5% from the August 15th total of 7,749 shares. Based on an average daily trading volume, of 111,733 shares, the days-to-cover ratio is presently 0.4 days.

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

Several hedge funds have recently modified their holdings of the business. Procyon Advisors LLC raised its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 19.7% in the first quarter. Procyon Advisors LLC now owns 18,316 shares of the investment management company’s stock worth $231,000 after purchasing an additional 3,011 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the 1st quarter valued at about $452,000. Stephens Inc. AR grew its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 9.5% in the 1st quarter. Stephens Inc. AR now owns 58,968 shares of the investment management company’s stock worth $744,000 after buying an additional 5,104 shares during the last quarter. Berger Financial Group Inc bought a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter worth approximately $126,000. Finally, Uhlmann Price Securities LLC increased its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 2.4% during the first quarter. Uhlmann Price Securities LLC now owns 43,174 shares of the investment management company’s stock worth $544,000 after purchasing an additional 1,023 shares in the last quarter.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

Shares of NFJ stock traded up $0.20 on Friday, hitting $15.69. The stock had a trading volume of 171,863 shares, compared to its average volume of 184,808. The business has a 50 day moving average price of $15.39 and a 200 day moving average price of $14.46. Virtus Dividend, Interest & Premium Strategy Fund has a one year low of $12.25 and a one year high of $15.75.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be issued a $0.305 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.22 annualized dividend and a dividend yield of 7.8%.

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.