Advent Convertible and Income Fund (NYSE:AVK) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Advent Convertible and Income Fund (NYSE:AVK)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.86 and traded as low as $11.63. Advent Convertible and Income Fund shares last traded at $11.66, with a volume of 64,121 shares traded.

Advent Convertible and Income Fund Stock Performance

The business has a 50-day moving average price of $11.97 and a two-hundred day moving average price of $11.86.

Advent Convertible and Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.1172 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.41 dividend on an annualized basis and a dividend yield of 12.07%.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Walleye Capital LLC purchased a new stake in Advent Convertible and Income Fund in the third quarter valued at approximately $373,000. Encompass More Asset Management acquired a new position in Advent Convertible and Income Fund in the 3rd quarter valued at about $140,000. Arete Wealth Advisors LLC raised its stake 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 valued at $7,044,000 after acquiring an additional 308,255 shares during the last quarter. Absolute Investment Advisers LLC acquired a new stake in Advent Convertible and Income Fund during the 4th quarter worth approximately $9,384,000. Finally, Calamos Advisors LLC purchased a new position in shares of Advent Convertible and Income Fund in the 4th quarter valued at approximately $386,000.

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.