Advent Convertible and Income Fund (NYSE:AVK) to Issue $0.12 Monthly Dividend

Advent Convertible and Income Fund (NYSE:AVK) announced a monthly dividend on Thursday, January 2nd,Wall Street Journal reports. Investors of record on Wednesday, January 15th will be given a dividend of 0.1172 per share by the investment management company on Friday, January 31st. This represents a $1.41 annualized dividend and a dividend yield of 11.76%. The ex-dividend date of this dividend is Wednesday, January 15th.

Advent Convertible and Income Fund Stock Performance

NYSE AVK traded up $0.22 on Friday, reaching $11.96. 138,213 shares of the company were exchanged, compared to its average volume of 141,257. The business’s fifty day moving average price is $11.85 and its 200 day moving average price is $12.02. Advent Convertible and Income Fund has a fifty-two week low of $11.03 and a fifty-two week high of $12.97.

Insider Activity

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

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.