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

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 114,000 shares, a growth of 52.4% from the February 13th total of 74,800 shares. Based on an average daily volume of 218,900 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NFJ. Kovitz Investment Group Partners LLC acquired a new position in shares of Virtus Dividend, Interest & Premium Strategy Fund during the 3rd quarter valued at about $17,092,000. Saba Capital Management L.P. increased its position in Virtus Dividend, Interest & Premium Strategy Fund by 10.5% during the fourth quarter. Saba Capital Management L.P. now owns 8,165,612 shares of the investment management company’s stock worth $103,132,000 after purchasing an additional 777,052 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Virtus Dividend, Interest & Premium Strategy Fund during the fourth quarter worth approximately $8,491,000. Capstone Investment Advisors LLC boosted its holdings in shares of Virtus Dividend, Interest & Premium Strategy Fund by 123.1% in the 4th quarter. Capstone Investment Advisors LLC now owns 526,672 shares of the investment management company’s stock valued at $6,652,000 after purchasing an additional 290,552 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in shares of Virtus Dividend, Interest & Premium Strategy Fund by 11.5% during the 4th quarter. Pathstone Holdings LLC now owns 1,882,886 shares of the investment management company’s stock valued at $23,819,000 after buying an additional 193,524 shares during the period.

Virtus Dividend, Interest & Premium Strategy Fund Price Performance

NFJ stock traded up $0.12 on Monday, reaching $12.14. The company had a trading volume of 146,281 shares, compared to its average volume of 204,367. The company’s fifty day moving average is $12.75 and its 200 day moving average is $12.81. Virtus Dividend, Interest & Premium Strategy Fund has a 1 year low of $11.72 and a 1 year high of $13.30.

Virtus Dividend, Interest & Premium Strategy Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 10.05%. The ex-dividend date of this dividend is Thursday, June 12th.

Virtus Dividend, Interest & Premium Strategy Fund Company Profile

AllianzGI NFJ Dividend, Interest & Premium Strategy Fund is a closed ended equity mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC and NFJ Investment Group LLC. It invests in public equity markets of the United States.