Advent Claymore Convertible Sec & Inc Fd (AVK) to Issue Monthly Dividend of $0.12 on October 31st

Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) announced a monthly dividend on Tuesday, October 1st, Zacks reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.117 per share by the investment management company on Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.74%. The ex-dividend date is Friday, October 11th.

Advent Claymore Convertible Sec & Inc Fd has increased its dividend by an average of 10.8% per year over the last three years.

AVK opened at $14.41 on Wednesday. Advent Claymore Convertible Sec & Inc Fd has a 1 year low of $12.07 and a 1 year high of $15.23. The stock’s 50 day simple moving average is $14.50 and its 200-day simple moving average is $14.68.

In other news, insider Michael A. Smart acquired 4,697 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $14.24 per share, for a total transaction of $66,885.28. Following the completion of the transaction, the insider now owns 4,805 shares in the company, valued at approximately $68,423.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have bought 6,913 shares of company stock worth $88,726.

About Advent Claymore Convertible Sec & Inc Fd

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.

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Dividend History for Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK)

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