Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) Stock Short Interest Declines 55.2%

Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) saw a large drop in short interest in September. As of September 15th, there was short interest totaling 40,367 shares, a drop of 55.2% from the August 31st total of 90,047 shares. Based on an average trading volume of 57,158 shares, the days-to-cover ratio is presently 0.7 days.

Insider Activity

In other Calamos Dynamic Convertible and Income Fund news, major shareholder Metlife Investment Management, purchased 880,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average cost of $25.00 per share, with a total value of $22,000,000.00. Following the transaction, the insider directly owned 296,000 shares in the company, valued at approximately $7,400,000. The trade was a -150.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harborfront Financial Group LLC bought a new position in shares of Calamos Dynamic Convertible and Income Fund during the second quarter valued at $32,000. Quad Cities Investment Group LLC boosted its stake in Calamos Dynamic Convertible and Income Fund by 2.8% in the 2nd quarter. Quad Cities Investment Group LLC now owns 17,038 shares of the company’s stock worth $439,000 after purchasing an additional 471 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Calamos Dynamic Convertible and Income Fund by 20.6% in the 2nd quarter. CoreCap Advisors LLC now owns 35,227 shares of the company’s stock worth $908,000 after purchasing an additional 6,022 shares in the last quarter. Western Wealth Management LLC purchased a new stake in Calamos Dynamic Convertible and Income Fund during the 1st quarter valued at about $53,000. Finally, Royal Bank of Canada grew its position in Calamos Dynamic Convertible and Income Fund by 4.5% during the 1st quarter. Royal Bank of Canada now owns 185,980 shares of the company’s stock valued at $3,971,000 after purchasing an additional 8,068 shares during the last quarter.

Calamos Dynamic Convertible and Income Fund Price Performance

CCD traded up $0.03 during midday trading on Wednesday, reaching $22.51. The company’s stock had a trading volume of 60,551 shares, compared to its average volume of 81,594. Calamos Dynamic Convertible and Income Fund has a 1 year low of $19.99 and a 1 year high of $26.99. The stock’s 50-day moving average is $24.64 and its 200-day moving average is $24.35.

Calamos Dynamic Convertible and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, September 21st. Investors of record on Monday, September 14th were paid a $0.1950 dividend. The ex-dividend date was Monday, September 14th. This represents a $2.34 annualized dividend and a dividend yield of 10.4%.

Calamos Dynamic Convertible and Income Fund Company Profile

Calamos Dynamic Convertible and Income Fund is a diversified, closed-end investment fund managed by Calamos Advisors LLC. The fund seeks to provide total return through a combination of current income and capital appreciation.

Its portfolio is dynamically allocated among convertible securities, high-yield corporate bonds and other income-producing investments. Convertible securities can offer both income and the potential to participate in the equity performance of the issuing company, while the fund’s broader mandate allows its managers to adjust exposure as market conditions change.

The fund may invest in securities issued by companies in the United States and other countries, providing exposure across multiple industries and geographic markets.