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

Advent Convertible and Income Fund (NYSE:AVK) declared a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be given 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 Up 1.9 %

Shares of Advent Convertible and Income Fund stock traded up $0.22 during trading hours on Friday, hitting $11.96. The company’s stock had a trading volume of 138,181 shares, compared to its average volume of 141,241. The stock has a 50 day moving average of $11.85 and a 200 day moving average of $12.02. Advent Convertible and Income Fund has a 12 month low of $11.03 and a 12 month high of $12.97.

Insider Activity at Advent Convertible and Income Fund

In other news, CEO Tracy V. Maitland purchased 13,179 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were bought at an average cost of $11.28 per share, for a total transaction of $148,659.12. Following the completion of the acquisition, the chief executive officer now directly owns 45,449 shares in the company, valued at approximately $512,664.72. This trade represents a 40.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randall C. Barnes acquired 3,785 shares of Advent Convertible and Income Fund stock in a transaction dated Thursday, October 17th. The shares were purchased at an average cost of $11.28 per share, with a total value of $42,694.80. Following the completion of the transaction, the insider now directly owns 15,140 shares of the company’s stock, valued at $170,779.20. This trade represents a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 19,264 shares of company stock worth $217,298.

About Advent Convertible and Income Fund

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.