Saba Capital Management, L.P. 4

What Happened
Saba Capital Management, L.P., a reported 10% owner of Virtus Dividend, Interest & Premium Strategy Fund (ticker: NFJ), made two open-market purchases of NFJ shares. On 2026-03-24 it purchased 16,685 shares at $12.45 for $207,728, and on 2026-03-25 it purchased 41,486 shares at $12.64 for $524,383 — a combined 58,171 shares worth $732,111. These were purchases (transaction code P), which are generally interpreted as buying activity rather than selling.

Key Details

• Transaction dates and prices:
  • 2026-03-24: 16,685 shares @ $12.45 = $207,728
  • 2026-03-25: 41,486 shares @ $12.64 = $524,383
  • Total: 58,171 shares = $732,111
• Transaction type: Open-market purchases (code P).
• Shares owned after transaction: Not specified in the filing excerpt provided.
• Footnotes/plans: No 10b5-1 plan, tax-withholding, or other special footnotes disclosed in the information provided.
• Filing date: Form 4 filed 2026-03-26; no late-filing flag was noted in the supplied details.

Context
Saba Capital is an institutional 10% owner, not an executive; institutional buys reflect portfolio or fund-level decisions and should be viewed differently than insider executive trades. Purchases can be a more informative signal than routine sales, but they do not, by themselves, prove future performance—review fund filings and broader context before drawing conclusions.