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

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 213,588 shares, a growth of 170.9% from the January 29th total of 78,849 shares. Based on an average daily trading volume, of 193,719 shares, the short-interest ratio is presently 1.1 days. Based on an average daily trading volume, of 193,719 shares, the short-interest ratio is presently 1.1 days.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 51,354 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average price of $13.70 per share, for a total transaction of $703,549.80. Following the completion of the acquisition, the insider owned 9,851,693 shares of the company’s stock, valued at approximately $134,968,194.10. This trade represents a 0.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have bought 431,290 shares of company stock worth $5,820,098.

Institutional Trading of Virtus Dividend, Interest & Premium Strategy Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Winnow Wealth LLC acquired a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the second quarter worth $32,000. Allworth Financial LP boosted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 431.2% in the fourth quarter. Allworth Financial LP now owns 3,235 shares of the investment management company’s stock valued at $42,000 after purchasing an additional 2,626 shares during the last quarter. CWM LLC grew its position in Virtus Dividend, Interest & Premium Strategy Fund by 33.7% during the 2nd quarter. CWM LLC now owns 3,958 shares of the investment management company’s stock worth $49,000 after purchasing an additional 998 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Virtus Dividend, Interest & Premium Strategy Fund by 11.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,105 shares of the investment management company’s stock worth $101,000 after purchasing an additional 836 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 2nd quarter valued at about $124,000.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

Shares of NFJ traded down $0.06 during trading hours on Friday, reaching $13.55. 126,463 shares of the company traded hands, compared to its average volume of 187,966. The business has a fifty day moving average price of $13.37 and a 200-day moving average price of $13.07. Virtus Dividend, Interest & Premium Strategy Fund has a 12-month low of $10.02 and a 12-month high of $13.92.

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.