Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Stock Passes Above Fifty Day Moving Average – Here’s Why

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $13.78 and traded as high as $14.94. Virtus Dividend, Interest & Premium Strategy Fund shares last traded at $14.86, with a volume of 193,649 shares trading hands.

Virtus Dividend, Interest & Premium Strategy Fund Stock Performance

The stock has a 50-day moving average price of $13.78 and a 200 day moving average price of $13.37.

Virtus Dividend, Interest & Premium Strategy Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a dividend of $0.305 per share. The ex-dividend date was Monday, March 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.2%.

Insider Activity at Virtus Dividend, Interest & Premium Strategy Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 3,509 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were bought at an average cost of $12.65 per share, for a total transaction of $44,388.85. Following the acquisition, the insider owned 10,216,703 shares in the company, valued at approximately $129,241,292.95. This represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

Several institutional investors have recently bought and sold shares of NFJ. Resources Management Corp CT ADV acquired a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the 1st quarter worth about $28,000. Allworth Financial LP lifted 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 acquiring an additional 2,626 shares during the last quarter. Western Wealth Management LLC acquired a new position in Virtus Dividend, Interest & Premium Strategy Fund in the first quarter valued at approximately $90,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Virtus Dividend, Interest & Premium Strategy Fund by 11.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,105 shares of the investment management company’s stock valued at $101,000 after acquiring an additional 836 shares during the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in Virtus Dividend, Interest & Premium Strategy Fund in the second quarter valued at 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.