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

by · The Cerbat Gem

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ – Get Free Report) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 230,275 shares, a decline of 55.3% from the September 30th total of 515,445 shares. Based on an average daily trading volume, of 374,867 shares, the days-to-cover ratio is presently 0.6 days.

Virtus Dividend, Interest & Premium Strategy Fund Stock Down 1.9%

NYSE:NFJ traded down $0.27 during trading hours on Friday, reaching $14.22. 486,412 shares of the company’s stock were exchanged, compared to its average volume of 210,798. Virtus Dividend, Interest & Premium Strategy Fund has a 1-year low of $12.25 and a 1-year high of $15.75. The company has a 50-day moving average of $15.08 and a 200 day moving average of $14.40.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a $0.3050 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $1.22 annualized dividend and a dividend yield of 8.6%.

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

A number of hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund during the 2nd quarter worth approximately $26,000. Resources Management Corp CT ADV acquired a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the 1st quarter valued at approximately $28,000. Allied Private Wealth LLC acquired a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the 2nd quarter valued at approximately $37,000. Allworth Financial LP purchased a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the second quarter valued at approximately $50,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Virtus Dividend, Interest & Premium Strategy Fund in the second quarter valued at approximately $86,000.

Virtus Dividend, Interest & Premium Strategy Fund Company Profile

(Get Free Report)

Virtus Dividend, Interest & Premium Strategy Fund is a diversified closed-end investment fund traded on the New York Stock Exchange under the symbol NFJ. The fund seeks to provide current income and long-term capital appreciation through a portfolio of dividend-paying equity securities, convertible securities and interest-bearing investments.

As part of its premium-income strategy, the fund may write covered call options on selected portfolio holdings. This approach is designed to generate additional option-premium income while maintaining exposure to equity markets.

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