HARTFORD, Conn., Dec. 17, 2021 /PRNewswire/ -- Virtus
AllianzGI Artificial Intelligence & Technology Opportunities
Fund (NYSE: AIO), a diversified closed-end fund, today
announced that it will institute a managed distribution plan
effective with the distribution payable February 1, 2022. Coincident with the adoption of
the plan, the Fund will raise its monthly distribution to
$0.15 per share, a 20% increase from
the distribution of $0.125 per share
payable January 3, 2022. The
increased distribution represents an annualized distribution rate
of 6.7% based on the closing market price of $26.88 on December 16,
2021.
The Fund is undertaking these actions as part of its ongoing
efforts to enhance shareholder value by both seeking to provide a
more attractive distribution rate and furthering its efforts to
reduce the current discount to net asset value at which its shares
currently trade. The Board also approved a change in the Fund's
fiscal year end from February 28 to January
31, effective January 31,
2022.
The Fund announced the following monthly distributions:
|
Ticker
|
Amount of
Distribution
|
Ex-Date
|
Record
Date
|
Payable
Date
|
|
AIO
|
$0.15
|
January 12,
2022
|
January 13,
2022
|
February 1,
2022
|
|
AIO
|
$0.15
|
February 10,
2022
|
February 11,
2022
|
March 1,
2022
|
|
AIO
|
$0.15
|
March 10,
2022
|
March 11,
2022
|
April 1,
2022
|
Under the terms of its Managed Distribution Plan, the Fund will
seek to maintain a consistent distribution level that may be paid,
in part or in full, from net investment income and realized capital
gains, or a combination thereof. Shareholders should note, however,
that if the Fund's aggregate net investment income and net realized
capital gains are less than the amount of the distribution level,
the difference will be distributed from the Fund's assets and will
constitute a return of the shareholder's capital. You should not
draw any conclusions about the Fund's investment performance from
the amount of this distribution or from the terms of the Fund's
Managed Distribution Plan.
The amounts of distributions reported in this notice are
estimates only and are not being provided for tax reporting
purposes. The actual amounts and sources of the distributions for
tax purposes will depend on the Fund's investment experience during
the remainder of its fiscal year and may be subject to changes
based on tax regulations. The Fund or your broker will send you a
Form 1099-DIV for the calendar year that will tell you what
distributions to report for federal income tax purposes.
About the Fund
Virtus AllianzGI Artificial Intelligence & Technology
Opportunities Fund is a diversified closed-end fund that 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. Virtus Investment
Advisers, Inc. is the investment adviser to the Fund and Allianz
Global Investors is its subadviser.
For more information on the Fund, contact shareholder services
at (866) 270-7788, by email at closedendfunds@virtus.com, or
through the Closed-End Funds section of virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk
of possible loss of principal. A fund's shares may be worth less
upon their sale than what an investor paid for them. Shares of
closed-end funds may trade at a premium or discount to their net
asset value. For more information about each fund's investment
objective and risks, please see the Fund's annual report. A copy of
the Fund's most recent annual report may be obtained free of charge
by contacting "Shareholder Services" as set forth at the end of
this press release.
About Allianz Global Investors
Allianz Global Investors or AllianzGI is a leading
active asset manager with over 750 investment professionals in 25
offices worldwide and manages assets for individuals, families, and
institutions. The investment team has extensive experience managing
closed-end funds and a differentiated, multi-asset approach based
on fundamental research designed to dynamically allocate across
convertible securities and equities.
About Virtus Investment Partners
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The
company provides investment management products and services
through its affiliated managers and select subadvisers, each with a
distinct investment style, autonomous investment process, and
individual brand. For
more information, visit virtus.com.
View original
content:https://www.prnewswire.com/news-releases/virtus-allianzgi-artificial-intelligence--technology-opportunities-fund-institutes-managed-distribution-plan-increases-monthly-distribution-to-0-15share-301447457.html
SOURCE Virtus AllianzGI Artificial Intelligence & Technology
Opportunities Fund