Advent Convertible and Income Fund (NYSE:AVK) Share Price Crosses Below 200-Day Moving Average of $12.22

Shares of Advent Convertible and Income Fund (NYSE:AVK – Get Rating) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.22 and traded as low as $12.10. Advent Convertible and Income Fund shares last traded at $12.30, with a volume of 79,173 shares traded.

Advent Convertible and Income Fund Stock Performance

The business has a 50 day moving average price of $11.72 and a 200-day moving average price of $12.22.

Advent Convertible and Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 13th will be paid a $0.1172 dividend. This is an increase from Advent Convertible and Income Fund’s previous monthly dividend of $0.09. This represents a $1.41 annualized dividend and a yield of 11.43%. The ex-dividend date is Thursday, January 12th.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake in Advent Convertible and Income Fund by 4.6% in the 2nd quarter. NewEdge Advisors LLC now owns 59,301 shares of the investment management company’s stock valued at $715,000 after purchasing an additional 2,600 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Advent Convertible and Income Fund by 11.2% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,097 shares of the investment management company’s stock valued at $170,000 after purchasing an additional 1,415 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Advent Convertible and Income Fund by 100.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,170 shares of the investment management company’s stock valued at $110,000 after purchasing an additional 4,601 shares in the last quarter. US Bancorp DE increased its stake in Advent Convertible and Income Fund by 363.9% in the 2nd quarter. US Bancorp DE now owns 3,187 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Advent Convertible and Income Fund by 25.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 721,226 shares of the investment management company’s stock valued at $8,691,000 after purchasing an additional 145,534 shares in the last quarter.

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.