Advent Convertible and Income Fund (NYSE:AVK) Stock Price Passes Above Fifty Day Moving Average of $11.66

Advent Convertible and Income Fund (NYSE:AVK – Get Rating) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.66 and traded as high as $12.06. Advent Convertible and Income Fund shares last traded at $12.05, with a volume of 107,461 shares.

Advent Convertible and Income Fund Stock Up 1.2 %

The stock has a 50 day simple moving average of $11.66 and a 200 day simple moving average of $12.21.

Advent Convertible and Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 13th will be given a dividend of $0.1172 per share. This is a boost from Advent Convertible and Income Fund’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $1.41 annualized dividend and a dividend yield of 11.67%.

Institutional Trading of Advent Convertible and Income Fund

A number of hedge funds have recently bought and sold shares of AVK. CWM LLC lifted its holdings in Advent Convertible and Income Fund by 46.7% during the second quarter. CWM LLC now owns 2,663 shares of the investment management company’s stock worth $32,000 after acquiring an additional 848 shares during the period. US Bancorp DE raised its stake in shares of Advent Convertible and Income Fund by 363.9% in the second quarter. US Bancorp DE now owns 3,187 shares of the investment management company’s stock valued at $38,000 after buying an additional 2,500 shares during the period. Coldstream Capital Management Inc. bought a new stake in shares of Advent Convertible and Income Fund in the fourth quarter valued at $109,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Advent Convertible and Income Fund by 100.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,170 shares of the investment management company’s stock valued at $110,000 after buying an additional 4,601 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Advent Convertible and Income Fund in the third quarter valued at $120,000.

About Advent Convertible and Income Fund

(Get Rating)

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.