NFJ - Virtus Dividend, Interest & Premium Strategy Fund

What this means for you

Saba has told the regulator it may push for changes at this fund. That usually means asking the fund to buy back shares at close to the full value of its holdings, to change who runs it, or to close down and pay holders out.

The investor's notice itself does not require anything from you; the fund's own announcement above does - by the date shown.

Large investors can also sell down and walk away. We show every notice they file, the day it is filed.

Separately, the fund itself has announced a buy-back - see the box above for what to do and by when.

Email me if this changes

What happened, and when

1. Sept 3, 2026

   The fund added to its buy-back offer documents; it still runs until Oct 5, 2026.

   Original document →

2. Sept 1, 2026

   The fund offered to buy back 25% of its shares at 99% of value, until Oct 5, 2026.

   Original document →

3. April 21, 2026

   Saba raised its stake to 11% (from 10.5%). It has said it may push for changes.

   Original document →

4. April 20, 2026

   The fund said it will offer to buy back up to 25% of its shares at 99% of value; the offer documents have not been filed yet.

   Original document →

5. March 20, 2026

   Saba started a fight over the shareholder vote.

   Original document →

About this fund

• Run by Virtus Investment Advisers, LLC. Part of the Virtus fund family. As of Jan 31, 2026, from the fund's yearly report. Original document →
• Size: about $1.43 billion of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund does not borrow. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.9% a year in management fees; 1% a year in total, including interest on borrowed money. Fiscal year ended Jan 31, 2026. As of Jan 31, 2026, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Jan 31, 2026) the fund paid $2.99 a share. $0.89 of that was income; $2.10 came from gains. As of Jan 31, 2026, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Jan 31, 2026): $14.82. The shares traded at $13.48, about 9% below that. As of Jan 31, 2026, from the fund's yearly report. Original document →
• How the holdings did: up 6.3% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +28.1%. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Jan 31, 2026): the value of the holdings returned +19.8%. How the share price did: the shares returned +2.9% over the same year, counting payouts and the change in the market price. As of Jan 31, 2026, from the fund's annual report. Original document →
• First reported to the regulator in 2003.

What the fund holds

Mostly shares (77%), the rest bonds and preferred shares. About 97% issued in the U.S.

The fund also sells options on its holdings to raise income.

1. Alphabet class A shares - 3.3%
2. Advanced Micro Devices - 3.3%
3. Hf Sinclair - 3.2%
4. Charles Schwab - 3.1%
5. Prologis - 3%
6. Ge Vernova - 2.8%
7. Eli Lilly & Company - 2.4%
8. Marvell Technology - 2.3%
9. Commercial Metals Company - 1.9%
10. Nucor - 1.8%

As of April 30, 2026, from the fund's quarterly holdings report. Original document →