Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO) Stock Price Down 0.7% – Should You Sell?

Shares of Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO) fell 0.7% on Tuesday. The stock traded as low as $23.02 and last traded at $23.3310. Approximately 108,787 shares changed hands during trading, an increase of 24% from the average daily volume of 88,061 shares. The stock had previously closed at $23.50.

Virtus Artificial Intelligence & Technology Opportunities Fund Stock Performance

The business’s 50-day simple moving average is $25.28 and its two-hundred day simple moving average is $25.65.

Virtus Artificial Intelligence & Technology Opportunities Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 11.0%.

Institutional Trading of Virtus Artificial Intelligence & Technology Opportunities Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new position in shares of Virtus Artificial Intelligence & Technology Opportunities Fund during the third quarter worth $113,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Virtus Artificial Intelligence & Technology Opportunities Fund in the second quarter valued at $34,000. NewEdge Advisors LLC grew its stake in shares of Virtus Artificial Intelligence & Technology Opportunities Fund by 60.1% in the second quarter. NewEdge Advisors LLC now owns 19,819 shares of the company’s stock valued at $556,000 after buying an additional 7,442 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Virtus Artificial Intelligence & Technology Opportunities Fund in the 2nd quarter valued at $261,000. Finally, Clay Northam Wealth Management LLC purchased a new stake in shares of Virtus Artificial Intelligence & Technology Opportunities Fund in the 2nd quarter valued at $215,000.

About Virtus Artificial Intelligence & Technology Opportunities Fund

Virtus Artificial Intelligence & Technology Opportunities Fund is a diversified, closed-end investment fund listed on the New York Stock Exchange under the ticker symbol AIO. The fund seeks to provide total return through a combination of capital appreciation and income by investing in companies that it believes may benefit from the development, adoption, and use of artificial intelligence and other technology innovations.

The fund invests primarily in equity securities, including common stocks, of companies involved in areas such as artificial intelligence, automation, cloud computing, semiconductors, software, cybersecurity, data infrastructure, and related technologies.