Eaton Vance Management decreased its stake in Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) by 37.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,060 shares of the investment management company’s stock after selling 157,735 shares during the period. Eaton Vance Management’s holdings in Advent Claymore Convertible Sec & Inc Fd were worth $4,297,000 at the end of the most recent quarter.
Separately, First Trust Advisors LP lifted its stake in Advent Claymore Convertible Sec & Inc Fd by 15.5% in the 2nd quarter. First Trust Advisors LP now owns 106,982 shares of the investment management company’s stock valued at $1,728,000 after purchasing an additional 14,372 shares during the last quarter.
In other Advent Claymore Convertible Sec & Inc Fd news, major shareholder Saba Capital Management, L.P. sold 59,776 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $16.11, for a total value of $962,991.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 267,505 shares of company stock valued at $4,343,291.
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Advent Claymore Convertible Sec & Inc Fd (AVK) opened at 15.90 on Friday. The company has a 50-day moving average of $16.17 and a 200 day moving average of $15.99. Advent Claymore Convertible Sec & Inc Fd has a 52 week low of $13.33 and a 52 week high of $16.80.
The business also recently declared a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.114 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date of this dividend is Thursday, September 14th. This is a boost from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.11.
Advent Claymore Convertible Sec & Inc Fd Company Profile
Advent Claymore Convertible Securities and Income Fund is a diversified, closed-end management investment company. The Fund’s investment objective is to provide total return through a combination of capital appreciation and current income. Under normal market conditions, the Fund invests approximately 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities.
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