Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) has recently declared its monthly distribution for the month of September 2023. As per the announcement made on August 31, 2023, the distribution amount is set at $0.15 per share. The ex-date for this distribution is September 8, 2023, with a record date of September 11, 2023. Shareholders can expect to receive their payments on October 2, 2023.
The fund operates under a Managed Distribution Plan, which aims to maintain a consistent distribution level. This distribution may be paid from net investment income, realized capital gains, or a combination of both. It’s important to note that if the Fund’s aggregate net investment income and net realized capital gains fall short of the distribution level, the difference will be distributed from the Fund’s assets and will be considered a return of capital.
The Fund provides an estimate of the sources of its distributions for September 2023 and fiscal year-to-date. The estimate suggests that the Fund has distributed more than its income and capital gains, with a portion of the distribution being a return of capital. It is essential to understand that a return of capital does not reflect the Fund’s investment performance and should not be mistaken for yield or income.
Investors should not draw conclusions about the Fund’s investment performance solely based on the distribution amount or the terms of the Managed Distribution Plan. The Fund’s investment performance can be evaluated by considering factors such as average annual total return and cumulative total return on net asset value (NAV).
Frequently Asked Questions (FAQ)
1. What is the monthly distribution for Virtus Artificial Intelligence & Technology Opportunities Fund?
The monthly distribution for September 2023 is $0.15 per share.
2. When will the distribution be paid?
Shareholders can expect to receive their payments on October 2, 2023.
3. How is the distribution amount determined?
The distribution level is determined based on the Fund’s net investment income and realized capital gains.
4. What if the Fund’s net income and capital gains are less than the distribution level?
If the net income and capital gains are insufficient, the shortfall will be distributed from the Fund’s assets as a return of capital.
5. What does a return of capital mean?
A return of capital occurs when the money invested in the Fund is paid back to the investor. It should not be confused with yield or income.
For more information about the Virtus Artificial Intelligence & Technology Opportunities Fund, please contact shareholder services at (866) 270-7788 or visit the Closed-End Funds section of virtus.com.