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

Advent Convertible and Income Fund (NYSE:AVK) announced a monthly dividend on Thursday, January 2nd,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.1172 per share by the investment management company on Friday, January 31st. This represents a $1.41 annualized dividend and a yield of 11.76%. The ex-dividend date of this dividend is Wednesday, January 15th.

Advent Convertible and Income Fund Stock Performance

AVK opened at $11.96 on Friday. The company’s 50-day simple moving average is $11.87 and its two-hundred day simple moving average is $12.02. Advent Convertible and Income Fund has a 52-week low of $11.03 and a 52-week high of $12.97.

Insider Activity at Advent Convertible and Income Fund

In related news, CEO Tracy V. Maitland acquired 13,179 shares of Advent Convertible and Income Fund stock in a transaction on Thursday, October 17th. The shares were bought at an average cost of $11.28 per share, with a total value of $148,659.12. Following the completion of the purchase, the chief executive officer now directly owns 45,449 shares of the company’s stock, valued at $512,664.72. The trade was a 40.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Tony Huang acquired 2,300 shares of Advent Convertible and Income Fund stock in a transaction that occurred on Thursday, October 17th. The stock was purchased at an average cost of $11.28 per share, for a total transaction of $25,944.00. Following the completion of the transaction, the vice president now directly owns 9,400 shares in the company, valued at $106,032. This trade represents a 32.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 19,264 shares of company stock worth $217,298.

Advent Convertible and Income Fund Company Profile

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.