Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO) Trading Down 0.2% – Here’s Why

Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE:AIO)’s stock price was down 0.2% during mid-day trading on Monday . The company traded as low as $23.54 and last traded at $23.63. Approximately 71,643 shares were traded during trading, a decline of 15% from the average daily volume of 83,868 shares. The stock had previously closed at $23.67.

Virtus Artificial Intelligence & Technology Opportunities Fund Trading Down 0.2%

The stock’s 50-day simple moving average is $24.16 and its 200-day simple moving average is $23.32.

Virtus Artificial Intelligence & Technology Opportunities Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Thursday, November 13th.

Insider Activity

In other news, EVP William Patrick Bradley III acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $24.79 per share, with a total value of $49,580.00. Following the completion of the purchase, the executive vice president directly owned 2,000 shares of the company’s stock, valued at $49,580. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in Virtus Artificial Intelligence & Technology Opportunities Fund in the second quarter valued at approximately $25,000. Spire Wealth Management bought a new position in Virtus Artificial Intelligence & Technology Opportunities Fund in the second quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in Virtus Artificial Intelligence & Technology Opportunities Fund in the second quarter valued at approximately $148,000. Elequin Capital LP bought a new position in Virtus Artificial Intelligence & Technology Opportunities Fund in the first quarter valued at approximately $158,000. Finally, CWM LLC increased its stake in Virtus Artificial Intelligence & Technology Opportunities Fund by 369.2% in the third quarter. CWM LLC now owns 8,099 shares of the company’s stock valued at $195,000 after acquiring an additional 6,373 shares during the last quarter.

Virtus Artificial Intelligence & Technology Opportunities Fund Company Profile

The Fund seeks to generate a stable income stream and growth of capital by focusing on one of the most significant long-term secular growth opportunities in markets today. A multi-asset approach based on fundamental research is employed, dynamically allocating to attractive segments of a company’s debt and equity in order to offer an attractive risk/reward profile.