Virtus Dividend, Interest & Premium Strategy Fund

NFJ

Market cap $1.38B

We review the CEF market valuation and performance through the fourth week of April and highlight recent market action. CEF markets faced renewed risk aversion, with sector discounts widening to historical averages and MLPs and Convertibles led to the upside. Western Asset CEFs' NII remained largely stable; key drivers include short-term rate direction, liability management, and overdistribution.

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba”) today announced that it has entered into a standstill agreement with Virtus Investment Advisers, LLC and Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) (the “Fund”). In connection with the agreement, the Fund will commence a cash self-tender offer to purchase up to 25% of its outstanding common shares. All shareholders will have the opportunity to tender some or all of t.

HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) (the “Fund”) today announced that its Board of Trustees has approved a tender offer (“Tender Offer”) intended to enhance shareholder value, provide shareholders with an additional source of liquidity for their investment, and provide the potential to reduce the Fund's trading discount to its net asset value per share (“NAV”). Pursuant to the terms of the Tender Offer, the Fund will offer to purch.

Virtus Dividend, Interest & Premium Strategy Fund blends equities, covered calls, and convertibles to target high yield with a current 9.58% dividend. NFJ's portfolio is equity-heavy, favoring Financials and Tech, with 22% in investment grade and 72% in unrated securities. Despite outperforming peers in the short term, NFJ's NAV and price lagged over 1-, 3-, 5-, and 10-year periods, and it suffered in rising rate environments.

HARTFORD, Conn.--(BUSINESS WIRE)--Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) (the “Fund”), a closed-end fund, announced today that the Board of Trustees approved the renewal of its open market share repurchase program (the “Program”) that was initially approved in February 2025. Pursuant to the Fund's repurchase program, the Fund may repurchase up to 5%1 of its outstanding common shares (based on common shares outstanding on March 4, 2026) on the open market at a discount.

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 March 16, 2026 March 30, 2026 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 combination thereof. Sharehold.

The Virtus Dividend, Interest & Premium Strategy Fund (NFJ) offers a 9.41% yield, prioritizing high current income and capital preservation over total return. NFJ's distribution is currently covered by investment profits, with net asset value rising 3.5% since July 2025, outperforming higher-yielding peers on sustainability. The fund trades at a 9.75% discount to NAV, more attractive than peers, though less than its long-term average, making it compelling for income-focused investors.

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 December 11, 2025 December 30, 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 capital gains, or a combination thereof. Sha.

Virtus Dividend, Interest & Premium Strategy Fund offers a high 9.3% yield, blending equities and convertible securities for income and capital preservation. NFJ's option writing strategy supports distributions but limits capital appreciation; most returns come from consistent, high payouts rather than share price growth. Currently trading at a historically low discount to NAV, NFJ may not be attractively valued for new accumulation but maintains a strong earnings track record.

We've got a frankly, bizarre dynamic setting up in stocks right now.