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Saba takes 9.57% position in Virtus Dividend Fund (NYSE: NFJ)

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Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Saba Capital Management and affiliates have disclosed a significant ownership stake in Virtus Dividend, Interest and Premium Strategy Fund. An amended Schedule 13D reports that Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein together beneficially own 9,008,235 common shares of the fund.

These holdings represent 9.57% of the fund’s common shares, based on 94,101,764 shares outstanding as of July 31, 2025. The reporting group paid approximately $110,219,429 in total to acquire these shares, using investor subscription proceeds, capital appreciation, and ordinary-course margin borrowings. All reported shares are held with shared voting and shared dispositive power, and the funds and accounts advised by Saba Capital are entitled to dividends and sale proceeds.

Positive

  • None.

Negative

  • None.





If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).






SCHEDULE 13D




Comment for Type of Reporting Person:
The percentages used herein are calculated based upon 94,101,764 shares of common stock outstanding as of 7/31/25, as disclosed in the company's N-CSRS filed 10/6/25.


SCHEDULE 13D




Comment for Type of Reporting Person:
The percentages used herein are calculated based upon 94,101,764 shares of common stock outstanding as of 7/31/25, as disclosed in the company's N-CSRS filed 10/6/25.


SCHEDULE 13D




Comment for Type of Reporting Person:
The percentages used herein are calculated based upon 94,101,764 shares of common stock outstanding as of 7/31/25, as disclosed in the company's N-CSRS filed 10/6/25.


SCHEDULE 13D


Saba Capital Management, L.P.
Signature:/s/ Michael D'Angelo
Name/Title:General Counsel
Date:01/15/2026
Boaz R. Weinstein
Signature:/s/ Michael D'Angelo
Name/Title:Authorized Signatory
Date:01/15/2026
Saba Capital Management GP, LLC
Signature:/s/ Michael D'Angelo
Name/Title:Attorney-in-fact*
Date:01/15/2026
Comments accompanying signature:
Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823

FAQ

What ownership stake in NFJ does Saba Capital report in this Schedule 13D/A?

Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein report beneficial ownership of 9,008,235 common shares of Virtus Dividend, Interest and Premium Strategy Fund, representing 9.57% of the outstanding common shares based on 94,101,764 shares as of July 31, 2025.

How much did Saba Capital pay to acquire its NFJ shares?

The reporting persons state that a total of approximately $110,219,429 was paid to acquire the common shares of Virtus Dividend, Interest and Premium Strategy Fund reported in this Schedule 13D/A.

Who are the reporting persons in the NFJ Schedule 13D/A filing?

The Schedule 13D/A is jointly filed by Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein, collectively referred to as the reporting persons.

What type of voting and dispositive power does Saba report over NFJ shares?

Each reporting person discloses 0 shares with sole voting or sole dispositive power and 9,008,235 shares with shared voting and shared dispositive power.

How was the percentage ownership in NFJ calculated in this Schedule 13D/A?

The reported 9.57% ownership percentage is calculated using 94,101,764 common shares outstanding as of July 31, 2025, as disclosed in the fund’s N-CSRS filed on October 6, 2025.

What is the source of funds used by Saba Capital to purchase NFJ shares?

Funds for the purchases came from subscription proceeds from investors, related capital appreciation, and margin account borrowings made in the ordinary course of business, with positions in the margin accounts pledged as collateral.

On what date did the ownership change in NFJ trigger this Schedule 13D/A amendment?

The date of the event requiring this Schedule 13D/A amendment is listed as January 14, 2026.
Virtus Divid, Interest & Prem

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