Advent Convertible and Income Fund (NYSE:AVK) Share Price Passes Above Fifty Day Moving Average of $11.80

Advent Convertible and Income Fund (NYSE:AVK) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.80 and traded as high as $11.89. Advent Convertible and Income Fund shares last traded at $11.85, with a volume of 141,804 shares traded.

Advent Convertible and Income Fund Stock Performance

The company has a 50 day simple moving average of $11.81 and a two-hundred day simple moving average of $10.99.

Advent Convertible and Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.1172 per share. This is a boost from Advent Convertible and Income Fund’s previous monthly dividend of $0.12. This represents a $1.41 annualized dividend and a yield of 11.78%. The ex-dividend date of this dividend is Thursday, March 14th.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Several large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in shares of Advent Convertible and Income Fund by 4.9% during the fourth quarter. Wells Fargo & Company MN now owns 738,762 shares of the investment management company’s stock valued at $8,407,000 after buying an additional 34,251 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Advent Convertible and Income Fund by 25.0% during the first quarter. Advisors Asset Management Inc. now owns 575,692 shares of the investment management company’s stock valued at $9,015,000 after buying an additional 115,315 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Advent Convertible and Income Fund by 62.4% during the fourth quarter. Koshinski Asset Management Inc. now owns 457,085 shares of the investment management company’s stock valued at $5,202,000 after buying an additional 175,684 shares during the period. Raymond James & Associates boosted its position in shares of Advent Convertible and Income Fund by 16.4% during the fourth quarter. Raymond James & Associates now owns 438,201 shares of the investment management company’s stock valued at $4,987,000 after buying an additional 61,854 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Advent Convertible and Income Fund by 1.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 429,650 shares of the investment management company’s stock valued at $4,889,000 after buying an additional 5,321 shares during the period.

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.