Advent Convertible and Income Fund (NYSE:AVK) Stock Crosses Above Fifty Day Moving Average of $11.80

Advent Convertible and Income Fund (NYSE:AVK)’s share price passed 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 changing hands.

Advent Convertible and Income Fund Stock Down 0.1 %

The company’s fifty day simple moving average is $11.80 and its 200-day simple moving average is $10.98.

Advent Convertible and Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.1172 dividend. This represents a $1.41 annualized dividend and a dividend yield of 11.87%. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Advent Convertible and Income Fund’s previous monthly dividend of $0.12.

Institutional Investors Weigh In On Advent Convertible and Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Advent Convertible and Income Fund by 4.9% in the 4th quarter. Wells Fargo & Company MN now owns 738,762 shares of the investment management company’s stock valued at $8,407,000 after acquiring an additional 34,251 shares during the period. Advisors Asset Management Inc. raised its position in shares of Advent Convertible and Income Fund by 25.0% in the 1st quarter. Advisors Asset Management Inc. now owns 575,692 shares of the investment management company’s stock valued at $9,015,000 after acquiring an additional 115,315 shares during the period. Koshinski Asset Management Inc. raised its position in shares of Advent Convertible and Income Fund by 62.4% in the 4th quarter. Koshinski Asset Management Inc. now owns 457,085 shares of the investment management company’s stock valued at $5,202,000 after acquiring an additional 175,684 shares during the period. Raymond James & Associates raised its position in shares of Advent Convertible and Income Fund by 16.4% in the 4th quarter. Raymond James & Associates now owns 438,201 shares of the investment management company’s stock valued at $4,987,000 after acquiring an additional 61,854 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Advent Convertible and Income Fund by 1.3% in the 4th 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 acquiring 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.