Advent Convertible and Income Fund (NYSE:AVK) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Advent Convertible and Income Fund (NYSE:AVK) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.94 and traded as low as $11.42. Advent Convertible and Income Fund shares last traded at $11.51, with a volume of 140,572 shares.

Advent Convertible and Income Fund Trading Down 0.1 %

The firm’s 50 day moving average is $12.04 and its two-hundred day moving average is $11.94.

Advent Convertible and Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.1172 per share. This represents a $1.41 annualized dividend and a yield of 12.22%. The ex-dividend date is Friday, March 14th.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Several large investors have recently added to or reduced their stakes in AVK. Sit Investment Associates Inc. grew its holdings in Advent Convertible and Income Fund by 3,605.3% during the 4th quarter. Sit Investment Associates Inc. now owns 4,355,074 shares of the investment management company’s stock worth $51,259,000 after acquiring an additional 4,237,538 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Advent Convertible and Income Fund during the 4th quarter worth approximately $13,713,000. Penserra Capital Management LLC acquired a new position in Advent Convertible and Income Fund during the 3rd quarter worth approximately $11,695,000. Absolute Investment Advisers LLC acquired a new position in Advent Convertible and Income Fund during the 4th quarter worth approximately $9,384,000. Finally, Arete Wealth Advisors LLC grew its holdings in Advent Convertible and Income Fund by 105.6% during the 3rd quarter. Arete Wealth Advisors LLC now owns 600,039 shares of the investment management company’s stock worth $7,044,000 after acquiring an additional 308,255 shares in the last quarter.

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.