Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO) Shares Up 1.4% – Here’s Why

Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO) traded up 1.4% during trading on Tuesday . The stock traded as high as $26.51 and last traded at $26.36. 69,922 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 101,274 shares. The stock had previously closed at $26.00.

Virtus Artificial Intelligence & Technology Opportunities Fund Stock Up 1.4%

The firm’s fifty day moving average is $23.77 and its 200 day moving average is $23.14.

Virtus Artificial Intelligence & Technology Opportunities Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 11th will be issued a $0.15 dividend. This represents a c) annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Monday, May 11th.

Insider Buying and Selling

In related news, EVP William Patrick Bradley III sold 2,000 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $21.56, for a total value of $43,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On Virtus Artificial Intelligence & Technology Opportunities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its stake in Virtus Artificial Intelligence & Technology Opportunities Fund by 2.8% during the 4th quarter. Truist Financial Corp now owns 16,364 shares of the company’s stock worth $356,000 after purchasing an additional 446 shares during the last quarter. NBC Securities Inc. boosted its stake in Virtus Artificial Intelligence & Technology Opportunities Fund by 8.5% during the 4th quarter. NBC Securities Inc. now owns 7,153 shares of the company’s stock worth $156,000 after purchasing an additional 561 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Virtus Artificial Intelligence & Technology Opportunities Fund by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 44,497 shares of the company’s stock valued at $997,000 after acquiring an additional 724 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Virtus Artificial Intelligence & Technology Opportunities Fund by 4.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 20,065 shares of the company’s stock valued at $436,000 after acquiring an additional 847 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Virtus Artificial Intelligence & Technology Opportunities Fund during the 2nd quarter valued at about $25,000.

Virtus Artificial Intelligence & Technology Opportunities Fund Company Profile

The Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) is a non-diversified, closed-end management investment company designed to provide shareholders with exposure to companies that derive a significant portion of their revenues from the development or use of artificial intelligence and related technologies. The Fund seeks to achieve long-term capital appreciation by identifying businesses that are positioned to benefit from ongoing advancements in AI, machine learning, robotics, data analytics, cloud computing, and semiconductor manufacturing.

Investment selections are made through a fundamental research process that emphasizes both thematic expertise and company-specific analysis.