The Virtus Artificial Intelligence & Technology Opportunities Fund (AIO) is experiencing a notable uptick, driven by several key developments in the artificial intelligence sector. On December 20, 2024, the U.S. Department of the Treasury released a report highlighting the increasing use of AI in financial services, emphasizing both opportunities and risks. This report underscores the potential for AI to broaden opportunities in the financial sector, which could be boosting investor confidence in AI-focused funds. Additionally, the ongoing discourse around AI's transformative impact across industries, as highlighted in various industry reviews, continues to fuel optimism about the sector's growth prospects.
Moreover, the quarterly rebalancing of major indices like the S&P 500 and Nasdaq-100, which took place on December 20, 2024, may have indirectly influenced the AIO ETF. The rebalancing process often leads to significant trading activity, impacting stocks and ETFs linked to these indices. As AI remains a focal point in technological advancements, funds like AIO that are heavily invested in AI and technology companies could benefit from increased investor interest and fund flows.
The AIO ETF is up 5.33% in pre-market hours on Friday, December 20, reaching $24.90 as of 7:30 AM ET.