Posted 2/19/2024, 12:50:14 AM
NVIDIA Earnings Could Boost Red-Hot AI Sector and Dividend Fund
- NVIDIA's stock has soared over 40% in 2023 on AI hype, reports earnings on Thursday which could influence sector
- Author has buy rating on Virtus AI & Technology Opportunities Fund (AIO), closed-end fund with AI exposure and 9.4% dividend yield
- AIO has $723M assets under management, 1.41% expense ratio, trades 137K shares daily, largest holding is NVDA at 3.3%
- AIO portfolio is diversified across sectors, assets, 44% tech, 32% convertibles, 16% high yield bonds, could be volatile
- AIO chart shows bullish technical outlook, upside price target of $25 based on measured move projection