Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO) Sees Significant Drop in Short Interest

Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 24,829 shares, a decline of 57.0% from the June 30th total of 57,729 shares. Based on an average daily volume of 66,901 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Virtus Artificial Intelligence & Technology Opportunities Fund

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its position in shares of Virtus Artificial Intelligence & Technology Opportunities Fund by 11.1% during the third quarter. Bank of America Corp DE now owns 839,642 shares of the company’s stock valued at $20,177,000 after acquiring an additional 84,015 shares during the last quarter. UBS Group AG lifted its holdings in Virtus Artificial Intelligence & Technology Opportunities Fund by 6.6% during the third quarter. UBS Group AG now owns 477,626 shares of the company’s stock worth $11,477,000 after acquiring an additional 29,408 shares during the period. Royal Bank of Canada boosted its position in Virtus Artificial Intelligence & Technology Opportunities Fund by 25.9% in the fourth quarter. Royal Bank of Canada now owns 427,602 shares of the company’s stock worth $9,300,000 after purchasing an additional 88,080 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Virtus Artificial Intelligence & Technology Opportunities Fund by 27.3% in the third quarter. Ameriprise Financial Inc. now owns 369,920 shares of the company’s stock worth $8,890,000 after purchasing an additional 79,378 shares during the last quarter. Finally, Saba Capital Management L.P. purchased a new position in Virtus Artificial Intelligence & Technology Opportunities Fund in the first quarter worth $5,220,000.

Virtus Artificial Intelligence & Technology Opportunities Fund Stock Up 0.1%

Shares of AIO stock opened at $25.61 on Monday. Virtus Artificial Intelligence & Technology Opportunities Fund has a 52-week low of $20.91 and a 52-week high of $28.60. The company has a 50-day simple moving average of $26.78 and a two-hundred day simple moving average of $24.37.

Virtus Artificial Intelligence & Technology Opportunities Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Thursday, August 13th will be paid a $0.18 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Thursday, August 13th.

About Virtus Artificial Intelligence & Technology Opportunities Fund

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.