Saba Capital Management (NYSE: NFJ) boosts stake with February share purchases

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than 10% owner of Virtus Dividend, Interest & Premium Strategy Fund, reported two open-market purchases of the fund’s common stock. On February 3, 2026, it bought 123,765 shares at $13.51 per share. On February 4, 2026, it purchased an additional 11,642 shares at $13.52 per share. Following these indirect transactions, Saba Capital Management, L.P. beneficially owned 9,746,112 common shares of the fund.

Insights

Closed‑end fund governance analyst

Large shareholder modestly increases indirect stake through open‑market buys.

Saba Capital Management, L.P., identified as a more than 10% owner of Virtus Dividend, Interest & Premium Strategy Fund, executed two open‑market purchases of common stock at prices near $13.51–$13.52 per share. These are straightforward buy transactions coded “P.”

The purchases total 135,407 shares, raising Saba’s indirectly beneficially owned position to 9,746,112 shares. The filing does not describe any broader plans or agreements; it simply records ownership and trade details as of early February 2026.

Because the transactions are incremental relative to Saba’s existing stake and lack additional disclosed terms or intentions, they represent routine ownership adjustments rather than a clearly thesis‑changing event for other shareholders.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Virtus Dividend, Interest & Premium Strategy Fund [ NFJ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/03/2026		P		123,765	A	$13.51	9,734,470	I	-
Common Stock	02/04/2026		P		11,642	A	$13.52	9,746,112	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	02/05/2026
	Boaz Weinstein	02/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity did Saba Capital Management, L.P. report for NFJ?

Saba Capital Management, L.P. reported buying additional NFJ common shares. It acquired 123,765 shares at $13.51 on February 3, 2026 and 11,642 shares at $13.52 on February 4, 2026, increasing its indirectly beneficially owned stake.

How many NFJ shares does Saba Capital Management, L.P. beneficially own after these trades?

After the reported purchases, Saba Capital Management, L.P. beneficially owns 9,746,112 shares of NFJ common stock indirectly. This figure reflects its holdings following the two open‑market buy transactions disclosed in the Form 4 filing for early February 2026.

What prices did Saba Capital Management, L.P. pay for NFJ shares in the latest Form 4?

Saba Capital Management, L.P. paid $13.51 per NFJ share for 123,765 shares on February 3, 2026, and $13.52 per share for 11,642 shares on February 4, 2026. Both transactions were coded as open‑market purchases.

Is Saba Capital Management, L.P. considered a 10% owner of NFJ?

Yes. Saba Capital Management, L.P. is identified as a more than 10% owner of NFJ in the Form 4. This status requires it to report transactions in the fund’s common stock under Section 16 of the Securities Exchange Act of 1934.

Were the NFJ transactions by Saba Capital Management, L.P. direct or indirect holdings?

The Form 4 classifies Saba Capital Management, L.P.’s NFJ common stock holdings as indirect. After the February 3–4, 2026 transactions, its indirectly beneficially owned position totals 9,746,112 shares, as reported in the beneficial ownership column.

What do the transaction codes in Saba Capital’s NFJ Form 4 mean?

The Form 4 uses transaction code “P” for both NFJ trades, indicating open‑market or private purchase of common stock. The filing shows only acquisitions of shares at specified prices and dates, with no reported sales or derivative security activity.