Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $14.63 and traded as high as $15.18. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $15.0510, with a volume of 387,945 shares changing hands.

Virtus Dividend, Interest & Premium Strategy Fund Trading Up 0.5%

The business’s 50-day moving average price is $14.63 and its two-hundred day moving average price is $13.67.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Monday, June 15th.

Insider Buying and Selling

In other Virtus Dividend, Interest & Premium Strategy Fund news, major shareholder Saba Capital Management, L.P. bought 3,509 shares of Virtus Dividend, Interest & Premium Strategy Fund stock in a transaction on Wednesday, April 1st. The shares were purchased at an average cost of $12.65 per share, for a total transaction 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. The trade was a 0.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

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

Several large investors have recently modified their holdings of the business. Resources Management Corp CT ADV bought a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter valued at about $28,000. Allworth Financial LP grew its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 431.2% in the 4th 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 period. Western Wealth Management LLC bought a new stake in Virtus Dividend, Interest & Premium Strategy Fund during the 1st quarter worth approximately $90,000. Northwestern Mutual Wealth Management Co. increased its stake 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 in the last quarter. Finally, Cresset Asset Management LLC bought a new stake in Virtus Dividend, Interest & Premium Strategy Fund during the 2nd quarter worth approximately $124,000.

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.