Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) Shares Shorted: Short Interest Down 59.2% in September

Calamos Dynamic Convertible and Income Fund (NASDAQ:CCD) saw a significant drop in short interest in September. As of September 30th, there was short interest totaling 16,457 shares, a drop of 59.2% from the September 15th total of 40,367 shares. Based on an average daily volume of 69,144 shares, the days-to-cover ratio is currently 0.2 days.

Calamos Dynamic Convertible and Income Fund Price Performance

NASDAQ:CCD traded down $0.39 during trading hours on Tuesday, hitting $23.87. 52,464 shares of the company traded hands, compared to its average volume of 81,893. The firm’s 50-day simple moving average is $24.37 and its 200-day simple moving average is $24.44. Calamos Dynamic Convertible and Income Fund has a one year low of $19.99 and a one year high of $26.99.

Calamos Dynamic Convertible and Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 14th will be given a dividend of $0.1950 per share. This represents a $2.34 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend is Wednesday, October 14th.

Insider Activity

In related news, major shareholder Metlife Investment Management, bought 880,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average price of $25.00 per share, with a total value of $22,000,000.00. Following the completion of the transaction, the insider directly owned 296,000 shares in the company, valued at approximately $7,400,000. This represents a -150.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Calamos Dynamic Convertible and Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCD. D.A. Davidson & CO. lifted its position in shares of Calamos Dynamic Convertible and Income Fund by 3.9% during the 1st quarter. D.A. Davidson & CO. now owns 622,462 shares of the company’s stock worth $13,290,000 after buying an additional 23,349 shares in the last quarter. Bank of America Corp DE increased its position in shares of Calamos Dynamic Convertible and Income Fund by 3.5% during the first quarter. Bank of America Corp DE now owns 314,124 shares of the company’s stock valued at $6,707,000 after acquiring an additional 10,689 shares during the last quarter. Royal Bank of Canada increased its position in shares of Calamos Dynamic Convertible and Income Fund by 4.5% during the first quarter. Royal Bank of Canada now owns 185,980 shares of the company’s stock valued at $3,971,000 after acquiring an additional 8,068 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Calamos Dynamic Convertible and Income Fund during the second quarter worth $1,566,000. Finally, PMG Family Office LLC lifted its holdings in Calamos Dynamic Convertible and Income Fund by 4.0% during the first quarter. PMG Family Office LLC now owns 57,566 shares of the company’s stock worth $1,229,000 after acquiring an additional 2,193 shares during the period.

About Calamos Dynamic Convertible and Income Fund

Calamos Dynamic Convertible and Income Fund (NASDAQ: CCD) is a closed-end investment company managed by Calamos Advisors LLC. The fund seeks to provide total return through a combination of current income and capital appreciation.

CCD invests primarily in convertible securities and other income-producing investments, including corporate debt, high-yield bonds, preferred stocks and common stocks. Convertible securities may provide the potential for equity participation while retaining bond-like income and downside characteristics, although the fund’s portfolio is subject to credit, interest-rate and market risks.

The fund may invest in securities issued by companies in the United States and other countries, giving it exposure to a range of industries and global markets.