Advent Convertible and Income Fund Declares Monthly Dividend of $0.12 (NYSE:AVK)

Advent Convertible and Income Fund (NYSE:AVKGet Free Report) announced a monthly dividend on Thursday, February 1st, Zacks reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.117 per share by the investment management company on Thursday, February 29th. This represents a $1.40 annualized dividend and a yield of 11.78%. The ex-dividend date is Wednesday, February 14th.

Advent Convertible and Income Fund Trading Up 0.2 %

Shares of NYSE AVK opened at $11.92 on Monday. Advent Convertible and Income Fund has a 12-month low of $9.24 and a 12-month high of $13.10. The stock has a fifty day moving average price of $11.30 and a 200 day moving average price of $10.90.

Insider Activity at Advent Convertible and Income Fund

In related news, CEO Tracy V. Maitland sold 7,163 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $11.17, for a total value of $80,010.71. Following the completion of the sale, the chief executive officer now directly owns 34,087 shares in the company, valued at approximately $380,751.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Money Concepts Capital Corp purchased a new position in Advent Convertible and Income Fund in the 4th quarter valued at about $36,000. JPMorgan Chase & Co. purchased a new position in Advent Convertible and Income Fund in the 4th quarter valued at about $69,000. Harbour Investments Inc. boosted its position in Advent Convertible and Income Fund by 4,295.6% in the 1st quarter. Harbour Investments Inc. now owns 7,956 shares of the investment management company’s stock valued at $92,000 after buying an additional 7,775 shares during the last quarter. Jaffetilchin Investment Partners LLC purchased a new position in Advent Convertible and Income Fund in the 2nd quarter valued at about $119,000. Finally, Susquehanna International Group LLP purchased a new position in Advent Convertible and Income Fund in the 4th quarter valued at about $133,000.

About Advent Convertible and Income Fund

(Get Free Report)

Advent Claymore Convertible Securities and Income Fund is a closed-ended fixed income mutual fund launched and managed by Advent Capital Management, LLC. The fund primarily invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across the diversified sectors.

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Dividend History for Advent Convertible and Income Fund (NYSE:AVK)

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