Advent Convertible and Income Fund (NYSE:AVK) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of Advent Convertible and Income Fund (NYSE:AVK) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.02 and traded as low as $11.72. Advent Convertible and Income Fund shares last traded at $11.77, with a volume of 149,495 shares trading hands.

Advent Convertible and Income Fund Price Performance

The business has a 50 day moving average price of $11.85 and a two-hundred day moving average price of $12.02.

Advent Convertible and Income Fund Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.1172 dividend. The ex-dividend date was Friday, December 13th. This is a boost from Advent Convertible and Income Fund’s previous dividend of $0.09.

Insider Transactions at Advent Convertible and Income Fund

In other Advent Convertible and Income Fund news, insider Randall C. Barnes purchased 3,785 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was purchased at an average cost of $11.28 per share, with a total value of $42,694.80. Following the purchase, the insider now owns 15,140 shares of the company’s stock, valued at approximately $170,779.20. The trade was a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Tony Huang acquired 2,300 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was acquired at an average cost of $11.28 per share, for a total transaction of $25,944.00. Following the transaction, the vice president now directly owns 9,400 shares in the company, valued at $106,032. The trade was a 32.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 19,264 shares of company stock valued at $217,298.

Hedge Funds Weigh In On Advent Convertible and Income Fund

Several institutional investors have recently made changes to their positions in AVK. Capital Investment Advisors LLC purchased a new position in shares of Advent Convertible and Income Fund in the 3rd quarter valued at $119,000. Trust Investment Advisors acquired a new position in shares of Advent Convertible and Income Fund during the second quarter worth $133,000. Encompass More Asset Management purchased a new stake in shares of Advent Convertible and Income Fund during the 3rd quarter valued at $140,000. Calton & Associates Inc. acquired a new stake in shares of Advent Convertible and Income Fund in the 3rd quarter worth $152,000. Finally, Choreo LLC purchased a new position in Advent Convertible and Income Fund during the 2nd quarter worth $206,000.

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.