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Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) is a diversified, closed-end management investment company with a limited term, set to terminate around October 29, 2031. The Fund’s primary investment objective is to deliver total return through a combination of current income, current gains, and long-term capital appreciation. Through a multi-asset approach that involves fundamental research, the Fund dynamically allocates investments within attractive segments of a company’s debt and equity, aiming to offer an appealing risk/reward profile.
Managed by Virtus Investment Advisers, Inc., with Voya Investment Management serving as the subadviser, AIO focuses on identifying opportunities within the rapidly evolving fields of artificial intelligence and technology. The Fund emphasizes a diversified investment strategy that includes a mix of income-generating assets and high-growth potential investments. This strategy is designed to capture both stable returns through dividends and interest, as well as capital appreciation from equity investments over the long term.
Recent achievements highlight the Fund’s consistent performance and commitment to shareholder returns. For instance, AIO has maintained regular monthly distributions, such as the $0.15 per share distribution scheduled for October 11, 2023, with subsequent payments planned for November 2023 through February 2024. These distributions are part of the Fund’s Managed Distribution Plan, which seeks to offer a steady distribution level derived from net investment income, realized capital gains, or a combination thereof.
The Fund's financial performance as of key reporting dates reflects a robust average annual total return on NAV for the five-year period at 9.69%, though individual shareholder performance may vary. Shareholders should be aware that distributions could include returns of capital, which occur when the distributed amount exceeds the Fund's income and gains. This aspect underscores the importance of understanding the composition of distributions, which may not directly correlate with the Fund's investment performance.
For detailed performance metrics and further information, shareholders can access the Fund’s disclosures and financial documents, which provide insights into the investment strategy and risk profile. Key risks include market volatility, the potential for loss of principal, and the trading of Fund shares at either premium or discount to NAV. Investors are encouraged to review these details carefully and consider the Fund’s offerings in the context of their overall investment objectives and risk tolerance.
The Virtus Artificial Intelligence & Technology Opportunities Fund represents a strategic option for investors seeking exposure to the growth potential within the AI and tech sectors while balancing the demand for income and capital appreciation. For more information, interested parties can contact shareholder services or visit the Virtus website.
Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced the adjournment of its special shareholder meeting originally set for February 12, 2021. The rescheduled meeting will now occur on February 25, 2021, at 4:00 p.m. (Eastern) in a virtual format due to COVID-19 concerns. Shareholders can attend virtually by registering with AST Financial. The fund encourages shareholders to vote via proxy even if they cannot attend. The fund has filed a definitive proxy statement with the SEC, which contains important information.
AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) reported its fiscal quarter and nine-month results ending November 30, 2020. The Fund's net assets stood at $937,969,768 with 34,323,135 common shares outstanding. The net asset value (NAV) per share was $27.33, while the market price was $23.99, reflecting a discount to NAV of 12.22%. For the quarter, they reported a net investment loss of $(713,288) or $(0.02) per share. However, a significant net realized and change in unrealized gain of $93,500,213 was also noted, translating to $2.72 per share.
Allianz Global Investors U.S. announced that the Special Meeting of Shareholders for the AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) scheduled for January 26, 2021, has been adjourned to February 12, 2021, due to the need for additional shareholder votes. The rescheduled meeting will be virtual in response to COVID-19. Shareholders must register by February 11, 2021, to participate. The Fund urges shareholders to authorize a proxy to vote regardless of attendance. A definitive proxy statement has been filed with the SEC containing important information.
AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) announced a special year-end distribution of $1.15583 per share, alongside AllianzGI Diversified Income & Convertible Fund (NYSE: ACV) which declared $0.37615. These payments aim to meet federal excise tax requirements for 2020. The distributions are payable on January 11, 2021, to shareholders of record as of December 21, 2020. The composition of future distributions may differ, potentially including capital gains or return of capital, and will be detailed in the Form 1099-DIV sent in January 2021.
Allianz Global Investors U.S. announced that shareholders of five Closed-End Funds approved a new investment advisory agreement with Virtus Investment Partners. The meeting was adjourned for the remaining funds to gather more votes. The approved funds include AllianzGI Convertible & Income 2024 Target Term Fund and others. The change is not expected to impact management personnel or fund composition, nor will it increase fees for shareholders. The adjourned meeting for two funds will take place on December 23, 2020, and will be held virtually.
AllianzGI Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) reported net assets of $856.34 million and a net asset value (NAV) of $24.95 as of August 31, 2020. The market price was $22.02, representing a discount to NAV of (11.74%). For the quarter, the fund posted a net investment loss of $(422,881) or $(0.01) per share, while net realized and unrealized gains were $134.06 million or $3.91 per share. Over six months, the net investment loss totaled $(488,572) with gains of $196.32 million.
Allianz Global Investors U.S. announced the adjournment of the Special Meeting of Shareholders set for October 28, 2020, to November 24, 2020, due to the need for additional shareholder votes. The virtual meeting aims to address public health concerns amid the COVID-19 pandemic. Shareholders must register in advance to participate. The meeting is crucial for allowing shareholders to vote on important proposals regarding the Funds. Allianz Global Investors manages $604 billion in assets and emphasizes active asset management to create value for clients.
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