HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) today announced the following quarterly distribution: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NFJ $0.305 June 12, 2025 June 27, 2025 The Fund previously announced the following quarterly distribution on November 20, 2024: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NFJ $0.305 March 13, 2025 March 28, 2025 Under the terms of its Managed Distribution Plan,.
NFJ offers high yield income through investing in quality U.S. equities and writing covered calls, with a 9.5% yield and quarterly dividends. The fund trades at a discount to NAV, averaging -12.5% over five years, but aims for consistent distributions via a managed distribution policy. NFJ's portfolio is diversified across Financials, Health Care, and Real Estate, avoiding heavy concentration in Technology stocks.
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) previously announced the following quarterly distribution on November 20, 2024: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NFJ $0.305 December 12, 2024 December 30, 2024 Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full, from net investment income and realized capital gains, or a.
Virtus Dividend, Interest & Premium Strategy Fund trades at a 13.82% discount to NAV, higher than its historical averages, making it an attractive buy. The fund invests in quality dividend-paying equities and convertible bonds, while also selling covered calls, offering a 9.41% forward yield. Activist investors Saba Capital and Karpus hold significant positions, with recent distribution increases aimed at enhancing shareholder value and reducing the discount.
HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) today announced the following quarterly distributions: Ticker Amount of Distribution Ex-Date/Record Date Payable Date NFJ $0.305 December 12, 2024 December 30, 2024 NFJ $0.305 March 13, 2025 March 28, 2025 Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full, from net investment income and realized cap.
NFJ's performance continues to be unimpressive in 2024, though the value-oriented portfolio could have a brighter future. The fund's discount has narrowed since our last update, pushing it to trade closer to the level of its longer-term average. Though, some good news is that the fund has increased its distribution since our last update, and Saba Capital Management has also started a position.
The Virtus Dividend, Interest & Premium Strategy Fund uses a combination of convertible securities and dividend-paying common stock to generate income. The fund has a higher current yield than its peers, but its performance over the past three years has been disappointing. The fund has underperformed its peers by a considerable margin, but its distributions have resulted in a total return of 15.74% over the trailing three-year period.
NFJ is a hybrid fund that invests in equity and convertible securities; in addition, the fund employs a covered call strategy. The fund's historical performance has been lackluster, but it is currently trading at a wide discount that could make it more tempting. The fund pays a very reasonable distribution yield, and there is potential for a boost in the future or possibly a special.