Virtus Dividend, Interest & Premium Strategy Fund (NFJ) reports closed-end fund developments tied to income-oriented portfolio management, distributions, net asset value, and capital actions. The diversified fund seeks current income and gains, with long-term capital appreciation as a secondary objective, and invests in dividend-paying equity securities and income-producing convertible securities while using covered call options on a portion of its portfolio.
Recurring NFJ news includes quarterly distribution announcements, Section 19(a) notices describing distribution sources, managed distribution plan disclosures, share repurchase program updates, tender-offer and material-agreement disclosures, shareholder voting matters, and portfolio-management or governance changes involving the Virtus, NFJ Investment Group, and Voya advisory structure.
Virtus Dividend, Interest & Premium Strategy Fund (NFJ) and Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced quarterly distributions. NFJ will distribute $0.225 per share, while NIE will distribute $0.380 per share. Payments will be made on September 24, 2021, to shareholders recorded by September 13, 2021, with an ex-dividend date of September 10, 2021. The distribution amounts are estimates and subject to change based on the funds' investment performance and tax regulations.
On June 4, 2021, Virtus Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) and Virtus AllianzGI Equity & Convertible Income Fund (NYSE: NIE) announced quarterly distribution declarations. The Virtus Dividend Fund will distribute $0.225 per share, and the AllianzGI Fund will distribute $0.380 per share. Distributions are payable on June 25, 2021, to shareholders of record on June 14, 2021, with an ex-dividend date of June 11, 2021. These amounts are estimates and may change based on the funds' investment experiences.
Virtus Dividend, Interest & Premium Strategy Fund (NFJ) and Virtus AllianzGI Equity & Convertible Income Fund (NIE) announced quarterly distributions of $0.225 and $0.380 per share, respectively. The distributions will be paid on March 26, 2021, to shareholders of record on March 15, with an ex-dividend date of March 12, 2021. It’s important to note that these amounts are estimates and may change based on the funds’ investment experiences and tax regulations. Virtus Investment Advisers became the investment adviser for both funds effective February 1, 2021.
Allianz Global Investors U.S. has announced that effective February 1, 2021, Justin Kass, CFA, will take over as the lead portfolio manager of the AllianzGI Dividend, Interest & Premium Strategy Fund (NYSE: NFJ). He will oversee the Fund's asset allocation among equities, options, and convertible securities. Jeffrey Parker, the former lead manager, will no longer be listed as a portfolio manager. Kris Marca, CFA, will also join the team focusing on equity and option securities. The Fund's investment strategies and objectives remain unchanged, and other current portfolio managers will continue in their roles.
AllianzGI Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) reported net assets of $1.29 billion as of October 31, 2020, down from $1.32 billion in 2019. The Fund's market price was $11.53, reflecting a discount to NAV of 15.41%, compared to 10.86% the previous year. Net investment income for the quarter was $2.3 million, or $0.03 per share, significantly lower than $5.28 million or $0.06 per share in 2019. Over nine months, net investment income decreased to $10.19 million from $17.66 million in 2019, while realized and unrealized gains reflected a loss of $13.71 million.
The Boards of Trustees of AllianzGI Dividend, Interest, & Premium Strategy Fund (NFJ) and AllianzGI Equity & Convertible Income Fund (NIE) have declared quarterly distributions. NFJ will distribute $0.225 per share, while NIE will distribute $0.38 per share. Payments are scheduled for January 4, 2021 to shareholders of record as of December 21, 2020, with an ex-dividend date of December 18, 2020. The composition of future distributions may vary based on investment performance and will not be defined until the fiscal year-end.
AllianzGI Dividend, Interest & Premium Strategy Fund (NYSE: NFJ) reported its fiscal results for the quarter and six months ending July 31, 2020. The Fund's net assets decreased to $1.29 billion from $1.33 billion year-over-year. The Net Asset Value (NAV) was $13.64, down from $14.00. The market price also dropped to $12.02 from $12.54, resulting in an increased discount to NAV of (11.88)%. Net investment income fell to $3.49 million from $5.71 million, and net realized losses were $(32.13 million).