Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.79 and traded as high as $15.06. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $14.9860, with a volume of 153,824 shares changing hands.

Virtus Dividend, Interest & Premium Strategy Fund Stock Down 0.4%

The stock’s fifty day moving average is $14.79 and its 200-day moving average is $13.78.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.305 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.1%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Saba Capital Management L.P. raised its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 18.2% in the 1st quarter. Saba Capital Management L.P. now owns 10,213,194 shares of the investment management company’s stock valued at $128,788,000 after acquiring an additional 1,573,163 shares in the last quarter. Focus Partners Wealth acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund during the fourth quarter valued at approximately $12,643,000. Arete Wealth Advisors LLC acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund during the first quarter valued at approximately $6,757,000. Royal Bank of Canada raised its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 303.0% in the first quarter. Royal Bank of Canada now owns 459,053 shares of the investment management company’s stock valued at $5,568,000 after purchasing an additional 345,156 shares during the period. Finally, Shaker Financial Services LLC raised its position in shares of Virtus Dividend, Interest & Premium Strategy Fund by 364.9% in the fourth quarter. Shaker Financial Services LLC now owns 221,869 shares of the investment management company’s stock valued at $2,860,000 after purchasing an additional 174,148 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.