News and research before you hear about it on CNBC and others. Request your one-week free trial of StreetInsider Premium here.
HARTFORD, Conn.–(BUSINESS WIRE)–The Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) today announced the following monthly distributions:
payout amount
ex date
recording date
payday
$0.15
April 12, 2023
April 13, 2023
May 1, 2023
$0.15
May 10, 2023
May 11, 2023
June 1, 2023
$0.15
June 9, 2023
June 12, 2023
July 3, 2023
Under the terms of its managed distribution plan, the Fund will seek to maintain a consistent level of distribution, which may be paid in part or in full out of net investment income and realized capital gains, or a combination thereof. However, Shareholders should note that if the Fund’s total net investment income and net realized capital gains are less than the distribution level amount, the difference will be distributed out of the Fund’s assets and constitute a return of the Shareholder’s capital. You should not infer the investment performance of the Fund based on the level of this distribution or the terms of the Fund’s Managed Distribution Plan.
The fund estimates that it has distributed more than its income and capital gains; therefore part of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money you have invested in the Fund is returned to you. An investment return distribution does not necessarily reflect the fund’s investment performance and should not be confused with “return” or “income”.
The fund provided this estimate of the sources of distributions:
distribution estimates
February 2023 (MTD)
financial year to date
(YTD)(1)
(Sources)
per share
Crowd
percentage
of electricity
distribution
per share
Crowd
percentage
of electricity
distribution
net investment income
$
0.008
5.3%
$
0.008
5.3%
Net realized short-term capital gains
–
0.0%
–
0.0%
Realized long-term net capital gains
–
0.0%
–
0.0%
Return of capital (or other source of capital)
0.142
94.7%
0.142
94.7%
overall distribution
$
0.150
100.0%
$
0.150
100.0%
(1)
The fiscal year began on February 1, 2023
Information on the Fund’s performance and payout ratios is set out below. Please note that all performance figures are based on the fund’s NAV and not the market price of the fund’s shares. Performance figures are not intended to represent the performance of individual shareholders.
February 28, 2023
5-Year Average Annual Total Return on NAV (2)
10.74%
Annualized Current Payout Rate (3)
9.36%
Fiscal YTD Cumulative Total Return on NAV (4)
-2.68%
Fiscal YTD Cumulative Payout Rate (5)
0.78%
(2)
Average Annual Total Return of NAV is the annual compound return for the five year period. It reflects the change in the fund’s NAV and the reinvestment of all distributions. AIO launched on October 31, 2019 and therefore the returns represent the returns to date.
(3)
Annualized Current Payout Rate is the current annualized payout rate as a percentage of the fund’s month-end NAV.
(4)
Fiscal year YTD cumulative total return on NAV is the percentage change in the fund’s NAV from the fiscal year 1 to the end of this month, including dividends paid and assuming reinvestment of those dividends.
(5)
The cumulative distribution rate for the current fiscal year is the dollar value of distributions from the first day of the fiscal year to the end of that month as a percentage of the fund’s month-end NAV.
The amounts and sources of distributions disclosed in this release are estimates only and are not provided for tax reporting purposes. The actual amounts and sources of distributions for tax purposes depend on the Fund’s investment experience during the remainder of the financial year and are subject to change due to tax regulations. The fund or your agent will send you a 1099-DIV for the calendar year telling you which distributions to report for federal income tax purposes.
About the fund
Virtus Artificial Intelligence & Technology Opportunities Fund is a diversified closed-end fund that seeks total return through a combination of current income, current earnings and long-term capital appreciation. It employs a multi-asset approach based on fundamental research that dynamically allocates attractive segments of a company’s debt and equity to provide an attractive risk/reward profile. The Fund has a limited term and will terminate on or about 29 October 2031 unless the Trustee and Shareholders agree to amend the limited term provision of the amended and restated Fund Agreement and Deed of Trust as provided herein. Virtus Investment Advisers, Inc. is the Fund’s investment adviser and Voya Investment Management is its sub-adviser.
For more information about the Fund, please contact Shareholder Services at (866) 270-7788 or email [email protected]or via the “Closed Funds” section on virtus.com.
fund risks
An investment in a Fund involves risk, including the risk of potential loss of capital. A Fund’s Shares, when sold, may be worth less than what an investor paid for them. Shares in closed-end funds may trade at a premium or discount to their net asset value. For more information about the fund’s investment objective and risks, see the fund’s annual report. A copy of the Fund’s most recent annual report can be obtained free of charge by contacting Shareholder Services as specified at the end of this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230303005379/en/
For more information:
Shareholder Services
(866) 270-7788
[email protected]
Source: Virtus Artificial Intelligence & Technology Opportunities Fund
