News coverage about Advent Claymore Convertible Sec & Inc Fd (NYSE:AVK) has trended positive this week, Accern Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Advent Claymore Convertible Sec & Inc Fd earned a coverage optimism score of 0.32 on Accern’s scale. Accern also gave media stories about the investment management company an impact score of 45.7783741838935 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Advent Claymore Convertible Sec & Inc Fd (AVK) traded down $0.04 during trading hours on Friday, hitting $16.04. The stock had a trading volume of 72,753 shares.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be issued a $0.115 dividend. This is an increase from Advent Claymore Convertible Sec & Inc Fd’s previous monthly dividend of $0.09. This represents a $1.38 annualized dividend and a dividend yield of 8.60%. The ex-dividend date is Tuesday, November 14th.
In related news, major shareholder Saba Capital Management, L.P. sold 59,776 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $16.11, for a total transaction of $962,991.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 203,669 shares of company stock valued at $3,284,252 over the last three months.
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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