VIRS ALLI : June 8, 2021 - Virtus AllianzGI Closed-End Funds Joint Annual Meeting of Shareholders Proxy Statement

VIRTUS ALLIANZGI ARTIFICIAL INTELLIGENCE & TECHNOLOGY

OPPORTUNITIES FUND

VIRTUS ALLIANZGI CONVERTIBLE & INCOME FUND

VIRTUS ALLIANZGI CONVERTIBLE & INCOME FUND II

VIRTUS ALLIANZGI CONVERTIBLE & INCOME 2024 TARGET TERM FUND

VIRTUS ALLIANZGI DIVERSIFIED INCOME & CONVERTIBLE FUND

VIRTUS ALLIANZGI EQUITY & CONVERTIBLE INCOME FUND VIRTUS DIVIDEND, INTEREST & PREMIUM STRATEGY FUND

101 Munson Street

Greenfield, MA 01301-9668

NOTICE OF JOINT ANNUAL MEETINGS OF SHAREHOLDERS

To be held on July 8, 2021

To the Shareholders of Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund ("AIO"), Virtus AllianzGI Convertible & Income Fund ("NCV"), Virtus AllianzGI Convertible & Income Fund II ("NCZ"), Virtus AllianzGI Convertible & Income 2024 Target Term Fund ("CBH"), Virtus AllianzGI Diversified Income & Convertible Fund ("ACV"), Virtus AllianzGI Equity & Convertible Income Fund ("NIE") and Virtus Dividend, Interest & Premium Strategy Fund ("NFJ") (each, a "Fund" and, collectively, the "Funds"):

Notice is hereby given that joint Annual Meetings of Shareholders (each, a "Meeting") of the Funds will be held telephonically via conference call on Thursday, July 8, 2021, with the Meeting to be held at 9:00 A.M., Eastern Time, for NCV, NCZ and ACV, at 9:30 A.M., Eastern Time, for NIE and CBH, and at 10:00 A.M., Eastern Time, for AIO and NFJ, for the following purposes, which are more fully described in the accompanying Proxy Statement:

1. To elect Trustees of each Fund, each to hold office for the term indicated and until his or her successor shall have been elected and qualified; and
2. To transact such other business as may properly come before the Meeting or any adjournment(s) or postponement(s) thereof.

The Board of Trustees of each Fund has fixed the close of business on May 13, 2021 as the record date for the determination of Shareholders entitled to receive notice of, and to vote at, the applicable Meeting or any adjournment(s) or postponement(s) thereof. The enclosed proxy is being solicited on behalf of the Board of Trustees of each Fund.

By order of the Board of Trustees of each

Fund

Angela Borreggine

Secretary

Hartford, Connecticut

June 8, 2021

Due to the difficulties arising from COVID-19, the Meeting will be conducted telephonically. Any Shareholder wishing to participate in the Meeting can do so. If you were a record holder of Fund shares as of May 13, 2021, please e-mail AST Fund Solutions, LLC ("AST") at [e-mail] no later than 3:00 p.m. Eastern Time on Wednesday, July 7, 2021 to register. Please include your Fund's name in the subject line and provide your name and address in the body of the e-mail. AST will then e-mail you the conference call dial-in information and instructions for voting during the Meeting. If you held Fund shares through an intermediary, such as a broker-dealer, as of May 13, 2021, and you want to participate in the Meeting, please e-mail AST at [e-mail] no later than 3:00 p.m. Eastern Time on Wednesday, July 7, 2021 to register. Please include your Fund's name in the subject line and provide your name, address and proof of ownership as of May 13, 2021 from your intermediary. Please be aware that if you wish to vote at the Meeting you must first obtain a legal proxy from your intermediary reflecting your Fund's name(s), the number of Fund shares you held and your name and e-mail address. You may forward an e-mail from your intermediary containing the legal proxy or attach an image of the legal proxy via e-mail to AST at [e-mail] and put "Legal Proxy" in the subject line. AST will then e-mail you the conference call dial-in information and instructions for voting during the Meeting.

In light of uncertainties relating to COVID-19, the Funds reserve the flexibility to change the date, time, location or means of conducting the Meeting. In the event of such a change, the Funds will issue a press release announcing the change and file the announcement on the SEC's EDGAR system, among other steps, but may not deliver additional soliciting materials to Shareholders or otherwise amend the Funds' proxy materials. Although no decision has been made, the Funds may consider imposing additional procedures or limitations on Meeting attendees, subject to any restrictions imposed by applicable law. The Funds plan to announce these changes, if any, at https://ir.virtus.com/news/ default.aspx, and encourage you to check this website prior to the Meeting.

It is important that your shares be represented at the applicable Meeting, telephonically or by proxy, no matter how many shares you own. Please complete, date, sign and return the applicable enclosed proxy or proxies in the accompanying envelope, which requires no postage if mailed in the United States, prior to the Meeting date in order to ensure that your vote is counted. Please mark and mail your proxy or proxies promptly in order to save the Funds any additional costs of further proxy solicitations and in order for the applicable Meeting to be held as scheduled.

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VIRTUS ALLIANZGI ARTIFICIAL INTELLIGENCE & TECHNOLOGY

OPPORTUNITIES FUND

VIRTUS ALLIANZGI CONVERTIBLE & INCOME FUND

VIRTUS ALLIANZGI CONVERTIBLE & INCOME FUND II

VIRTUS ALLIANZGI CONVERTIBLE & INCOME 2024 TARGET TERM FUND

VIRTUS ALLIANZGI DIVERSIFIED INCOME & CONVERTIBLE FUND

VIRTUS ALLIANZGI EQUITY & CONVERTIBLE INCOME FUND VIRTUS DIVIDEND, INTEREST & PREMIUM STRATEGY FUND

101 Munson Street

Greenfield, MA 01301-9668

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY

MATERIALS FOR THE JOINT ANNUAL MEETINGS OF SHAREHOLDERS

TO BE HELD ON JULY 8, 2021

This Proxy Statement is also available at https://vote.proxyonline.com/ VirtusAllianzGI/docs/CEFAnnualMeeting.pdf. Each Fund will furnish, without charge, a copy of its respective annual report for the fiscal years ended January 31, 2021 for ACV, NIE and NFJ and February 28, 2021 for AIO, NCV, NCZ and CBH, to any Fund shareholder upon request. To request a copy, please call 1-866-270-7788 or write to the Funds' Secretary in care of the Fund(s), at 101 Munson Street, Greenfield, MA 01301-9668.

PROXY STATEMENT

June 8, 2021

FOR THE JOINT ANNUAL MEETINGS OF SHAREHOLDERS

TO BE HELD ON JULY 8, 2021

Introduction

This Proxy Statement is furnished in connection with the solicitation by each Board of Trustees (the "Board", or the "Trustees") of Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund ("AIO"), Virtus AllianzGI Convertible & Income Fund ("NCV"), Virtus AllianzGI Convertible & Income Fund II ("NCZ"), Virtus AllianzGI Convertible & Income 2024 Target Term Fund ("CBH"), Virtus AllianzGI Diversified Income & Convertible Fund ("ACV"), Virtus AllianzGI Equity & Convertible Income Fund ("NIE"), and Virtus Dividend, Interest & Premium Strategy Fund ("NFJ"), each a Massachusetts business trust (each, a "Fund" and together, the "Funds"), of proxies to be voted at the Joint Annual Meetings of Shareholders of the Funds and any adjournment(s) or postponements(s) thereof. The term "Meeting" is used throughout this joint Proxy Statement to refer to each of the joint Annual Meetings of Shareholders of NCV, NCZ and ACV, the joint Annual Meetings of Shareholders of NIE and