Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO) Stock Falls 0.7% – Time to Sell?

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

Virtus Artificial Intelligence & Technology Opportunities Fund Stock Performance

The firm has a 50 day simple moving average of $25.34 and a 200-day simple moving average of $25.64.

Virtus Artificial Intelligence & Technology Opportunities Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be given a $0.21 dividend. 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 10.8%.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Virtus Artificial Intelligence & Technology Opportunities Fund in the 2nd quarter worth about $34,000. NewEdge Advisors LLC lifted its stake in Virtus Artificial Intelligence & Technology Opportunities Fund by 60.1% in the 2nd 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 position in Virtus Artificial Intelligence & Technology Opportunities Fund during the second quarter worth $261,000. Clay Northam Wealth Management LLC purchased a new stake in shares of Virtus Artificial Intelligence & Technology Opportunities Fund in the second quarter valued at $215,000. Finally, Continuum Advisory LLC purchased a new stake in Virtus Artificial Intelligence & Technology Opportunities Fund during the 2nd quarter worth about $28,000.

Virtus Artificial Intelligence & Technology Opportunities Fund Company Profile

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.