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

Advent Convertible and Income Fund (NYSE:AVK)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.89 and traded as low as $11.44. Advent Convertible and Income Fund shares last traded at $11.55, with a volume of 107,033 shares changing hands.

Advent Convertible and Income Fund Price Performance

The business has a 50 day simple moving average of $11.99 and a two-hundred day simple moving average of $11.89.

Advent Convertible and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.1172 dividend. This represents a $1.41 annualized dividend and a yield of 12.18%. The ex-dividend date of this dividend 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. FCA Corp TX raised its stake in shares of Advent Convertible and Income Fund by 34.8% during the fourth quarter. FCA Corp TX now owns 190,847 shares of the investment management company’s stock valued at $2,246,000 after acquiring an additional 49,237 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Advent Convertible and Income Fund during the 4th quarter worth $13,713,000. Advisors Asset Management Inc. raised its position in Advent Convertible and Income Fund by 22.3% during the 4th quarter. Advisors Asset Management Inc. now owns 602,548 shares of the investment management company’s stock valued at $7,092,000 after purchasing an additional 109,712 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Advent Convertible and Income Fund by 6.0% in the 4th quarter. Concurrent Investment Advisors LLC now owns 26,337 shares of the investment management company’s stock worth $310,000 after buying an additional 1,487 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of Advent Convertible and Income Fund during the 4th quarter worth $101,000.

Advent Convertible and Income Fund Company Profile

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.